Streetbeat News

HYMTF

Hyundai Motor

http://www.hyundai.com/

Industry

Automobile Manufacturing

Open

53.00

Mkt cap

35B

Volume

600

High

53.00

P/E Ratio

2.95

52-wk high

69.27

Low

52.91

Div yield

0.09

52-wk low

39.80

Hyundai Motor Company plans to shut down two parts forging plants in Ulsan, South Korea, by next year as part of its strategy to transition from petrol-powered vehicles to electric vehicles (EVs). The plants, which produce engine parts, will close in January and October. Hyundai is considering outsourcing some engine components production and has started building a new 2 trillion won EV production plant in South Korea. HYMTF shares closed slightly higher at $41.50.

Portfolio Pulse from Shivani Kumaresan

December 21, 2023 | 12:56 pm

Major automakers, including General Motors (GM), Toyota (TM), Volkswagen (VWAGY), Ford (F), Mercedes-Benz (MBGYY), BMW (BMWYY), Hyundai (HYMTF), and Kia, along with air bag manufacturers, are opposing the NHTSA's recommendation to recall 52 million air bag inflators over rupture concerns. The recall, if enforced, would be the second-largest in U.S. automotive history. Automakers argue the risks are minimal, with ARC estimating less than one rupture in the next 33 years. GM and Stellantis (STLA) have called NHTSA's actions arbitrary and contrary to law. GM shares dropped slightly in premarket trading.

Portfolio Pulse from Shivani Kumaresan

December 20, 2023 | 12:23 pm

Hyundai Motor Co (OTC:HYMTF) is selling its manufacturing plant in Russia to Art-Finance LLC for a nominal 7,000 roubles ($77.67). The company has disclosed a loss of 287 billion won ($219.19 million) on the sale. The St. Petersburg-based facility has been inactive since March 2022. Despite the divestiture, Hyundai plans to continue providing after-sales services in Russia. HYMTF shares dropped by 2.82% to close at $41.30 on Monday.

Portfolio Pulse from Lekha Gupta

December 19, 2023 | 12:17 pm

Consumer Reports' annual survey on auto brand reliability did not feature any U.S. automakers in the top ten, with Toyota (TM) and its Lexus brand leading the list. BMW's Mini, Honda's Acura and Honda, Subaru, Mazda (MZDAY), Porsche (POAHY), BMW, and Hyundai's Kia were also in the top ten. U.S. brands like General Motors' Buick (GM), Tesla (TSLA), and Ford (F) trailed behind, with Tesla ranking 14th. The survey also noted that hybrids had fewer problems than ICE vehicles, while PHEVs and EVs, including electric pickup trucks, had more issues. The KraneShares Electric Vehicles and Future Mobility Index ETF (KARS) closed down 0.55%.

Portfolio Pulse from Shanthi Rexaline

December 18, 2023 | 6:44 am

Hyundai has inaugurated the IONIQ Lab in Bangkok, positioning itself as a leader in electric vehicle (EV) innovation in Thailand. The lab is expected to serve as a hub for EV research and development, fostering advancements in the sector and potentially influencing Hyundai's market presence in the region.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 7:39 am

The United Auto Workers (UAW) union has filed legal charges against Honda Motor Co Ltd (NYSE:HMC), Hyundai Motor Company (OTC:HYMTF), and Volkswagen AG (OTC:VWAGY) for alleged anti-union activities in their U.S. plants. The UAW accuses these automakers of union-busting tactics such as instructing workers to remove union stickers, polling employees on union support, and coercing workers. UAW President Shawn Fain has called out these companies for breaking the law. The UAW is seeking to organize the nonunion auto sector and claims substantial support at Volkswagen's Chattanooga plant. Honda and Hyundai have stated their commitment to employee rights, while Volkswagen has pledged to investigate the claims. HMC shares closed higher by 1.21% at $30.85 on Monday.

Portfolio Pulse from Shivani Kumaresan

December 12, 2023 | 1:31 pm

Cyclone Michaung has disrupted manufacturing operations in Chennai, affecting suppliers to major tech companies like Apple, Dell, and Nokia. While most companies have resumed production, the cyclone's impact could have short-term implications for these companies' supply chains. Apple's suppliers Foxconn, Salcomp, Luxshare, and Pegatron, as well as Dell, Nokia, and Cisco, which have significant operations in the area, are particularly noteworthy. Google's expansion plans with Alphabet CEO Sundar Pichai's discussions and partnership with HP for Chromebook manufacturing in India are also highlighted.

Portfolio Pulse from Surbhi Jain

December 08, 2023 | 2:00 pm

Over 1,000 employees at the Volkswagen (OTC:VWAGY) plant in Chattanooga, Tennessee, have signed union authorization cards, indicating a push towards unionization led by the United Auto Workers (UAW). This move is part of a larger UAW campaign to unionize the nonunion auto sector in the U.S., which includes major automakers like Tesla (NASDAQ:TSLA), Toyota (NYSE:TM), and others. The UAW's strategy involves publicizing the effort once 30% of workers sign cards, rallying at 50%, and demanding a vote or recognition at 70% support.

Portfolio Pulse from Benzinga Neuro

December 08, 2023 | 11:21 am

The United Auto Workers (UAW) union has launched a campaign to unionize workers at 13 non-union automakers in the U.S., targeting nearly 150,000 workers from companies like BMW, Honda, Hyundai, Lucid, Mazda, Mercedes-Benz, Nissan, Rivian, Subaru, Tesla, Toyota, Volkswagen, and Volvo. UAW President Shawn Fain, after securing contracts with GM, Ford, and Stellantis, is looking to expand the union's reach beyond the 'Big Three' Detroit automakers by 2028. The UAW's membership has declined over the years, but recent successes have led to wage increases at non-union companies, known as the 'UAW bump.' Past efforts to unionize at foreign-based automaker plants and Tesla's Fremont plant have seen limited success.

Portfolio Pulse from Michael Cohen

November 29, 2023 | 10:37 pm

Tesla Inc (NASDAQ:TSLA) is facing a labor dispute in Sweden with IF Metall union, representing mechanics who have gone on strike. The conflict has escalated with Tesla suing the Swedish state and other unions joining in solidarity, affecting Tesla's operations and supply chain in Sweden. The dispute comes ahead of the Cybertruck launch and could have broader implications for Tesla's anti-union stance globally. Meanwhile, Tesla's stock is up 0.9% after a month-long 14% climb. Other automakers like Ford (NYSE:F), General Motors (NYSE:GM), and Stellantis (NYSE:STLA) have recently faced similar union challenges, with the UAW securing new agreements that could pressure Tesla to raise wages.

Portfolio Pulse from Natan Ponieman

November 27, 2023 | 7:50 pm

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