Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Korea Stock Exchange  >  Kia Motors Corporation    A000270   KR7000270009

KIA MOTORS CORPORATION

(A000270)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector news

South Korea's Hyundai Motor, LG Chem considering EV battery JV in Indonesia - source

share with twitter share with LinkedIn share with facebook
06/23/2020 | 03:48am EDT
FILE PHOTO: The 2019 Hyundai Kona Electric vehicle is unveiled at the New York Auto Show in New York

By Hyunjoo Jin and Joyce Lee

Hyundai Motor Group and LG Chem Ltd are considering establishing an electric vehicle (EV) battery manufacturing joint venture in Indonesia, a person familiar with the matter told Reuters on Tuesday.

The investment size and production capacity have not been decided, the person said, declining to be identified as discussions are private.

Global automakers are moving to secure batteries in anticipation of a rise in EV sales due to government subsidies and quotas designed to cut carbon emissions.

In recent years, LG Chem has set up ventures with General Motors Co and Geely Automobile Holdings Ltd. LG Chem also supplies batteries to automakers including Hyundai and Tesla Inc.

LG Group Chairman Koo Kwang-mo met Hyundai Motor Group Executive Vice Chairman Euisun Chung on Monday to discuss cooperation in EV batteries, including future technology.

LG Chem and Hyundai Motor Group confirmed the meeting but said nothing had been decided concerning a potential venture.

"Hyundai Motor Group is collaborating with LG Chem on various projects. However, no concrete discussion has been made on a battery joint venture in Indonesia," Hyundai said in a statement to Reuters.

A battery cell joint venture would be the first for Hyundai, viewed as a relative latecomer to the EV market. It is mounting a challenge to the dominance of Toyota Motor Corp in Southeast Asia, with a new factory in Indonesia which may produce electric vehicles.

"Indonesia is committed to promoting the EV industry, but, consumer-wise, the country's not yet ready with charging infrastructure or consumer purchasing power," said Eugene Investment & Securities analyst Lee Jae-il. "A battery joint venture is likely a mid- or longer-term plan."

Indonesia's Coordinating Ministry of Maritime and Investment Affairs has heard of discussions between Hyundai Motor Group and LG Chem, said spokesman Jodi Mahardi, adding the companies have met with the government but have not shared further details.

"Hyundai has taken LG to meet a number of domestic companies to explore a potential partnership for EV battery production," he said.

(Reporting by Hyunjoo Jin and Joyce Lee; Additional reporting by Heekyong Yang in Seoul and Fransiska Nangoy in Jakarta; Editing by Christopher Cushing and Stephen Coates)

Stocks mentioned in the article
ChangeLast1st jan.
GEELY AUTOMOBILE HOLDINGS LIMITED -1.41% 16.74 End-of-day quote.9.84%
GENERAL MOTORS COMPANY -1.71% 27.55 Delayed Quote.-24.73%
HYUNDAI CORPORATION -2.01% 14600 End-of-day quote.-18.44%
HYUNDAI MOBIS CO.,LTD -0.65% 228000 End-of-day quote.-10.94%
HYUNDAI MOTOR COMPANY -1.16% 170000 End-of-day quote.41.08%
KIA MOTORS CORPORATION -0.77% 44900 End-of-day quote.1.35%
LG CHEM, LTD. -0.54% 737000 End-of-day quote.132.13%
LG CORP. 1.58% 90000 End-of-day quote.21.95%
TESLA, INC. 4.26% 1621 Delayed Quote.287.49%
TOYOTA INDUSTRIES CORPORATION 1.64% 6180 End-of-day quote.-2.37%
TOYOTA MOTOR CORPORATION 0.57% 7285 End-of-day quote.-5.56%
share with twitter share with LinkedIn share with facebook
All news about KIA MOTORS CORPORATION
08/10Hyundai Motor Group Provides Pandemic Mobility Support to Residents of Los An..
AQ
08/10Hyundai Motor shares rise as much as 10% on Ioniq EV plan
RE
08/09Hyundai Motor shares rise as much as 10% on Ioniq EV plan
RE
08/06Modern driver-assistance technology 'far from reliable' -AAA study
RE
08/06Hyundai Motor Group Provides Pandemic Mobility Support to Residents of Los An..
AQ
07/30FACTBOX : Central Europe's car makers hit by COVID-19 pandemic
RE
07/30Auto industry set to put brakes on central Europe's COVID-19 recovery
RE
07/29S.Korean shares hit near 2-yr high on Fed stimulus hopes
RE
07/29South Korea's July exports seen falling for fifth month on weak global demand
RE
07/29S.Korea's July exports seen falling for fifth month on weak global demand
RE
More news
Financials
Sales 2020 56 847 B 47,9 B 47,9 B
Net income 2020 1 442 B 1,22 B 1,22 B
Net cash 2020 1 337 B 1,13 B 1,13 B
P/E ratio 2020 12,5x
Yield 2020 2,41%
Capitalization 18 002 B 15 201 M 15 176 M
EV / Sales 2020 317x
EV / Sales 2021 286x
Nbr of Employees -
Free-Float 60,3%
Chart KIA MOTORS CORPORATION
Duration : Period :
Kia Motors Corporation Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends KIA MOTORS CORPORATION
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 27
Average target price 45 444,44 KRW
Last Close Price 44 900,00 KRW
Spread / Highest target 33,6%
Spread / Average Target 1,21%
Spread / Lowest Target -17,6%
EPS Revisions
Managers
NameTitle
Ho-Sung Song President, Co-Chief Executive Officer & Director
Jun-Young Choi Co-Chief Executive Officer, Director & VP
Woo-Jung Joo Director, Senior Managing Director & Head-Finance
Eui-Sun Chung Senior Vice Chairman
Sang-Koo Nam Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
KIA MOTORS CORPORATION1.35%15 201
TOYOTA MOTOR CORPORATION-5.56%189 413
VOLKSWAGEN AG-21.28%87 687
DAIMLER AG-14.30%53 870
BMW AG-20.32%45 123
HONDA MOTOR CO., LTD.-10.84%44 502