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MarketScreener Homepage  >  Equities  >  Korea Stock Exchange  >  Hyundai HCN Co.,Ltd.    A126560   KR7126560002

HYUNDAI HCN CO.,LTD.

(A126560)
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Hyundai Motor to Accelerate Urban Air Mobility Test Flights

09/22/2020 | 11:50am EST

Highlights:

* Four companies will work to accelerate the development of Urban Air Mobility and establish basis for test flights under the agreement

* The work undertaken by the partnership will align with the Korean UAM Roadmap

* The partnership will support building a robust infrastructure and business model as well as innovative UAM vehicles

Hyundai is partnering with Incheon International Airport Corp., Hyundai Engineering & Construction Co. and KT Corp. to accelerate the development of Urban Air Mobility and conduct test flights.

With a memorandum of understanding signed on September 18, the four parties will work toward commercialising UAM by 2028.

In June 2020, the Korean government announced the Korean UAM Roadmap, outlining steps needed to commercialise UAM. Hyundai Motor and its partners will align with the roadmap that includes the Korean UAM Grand Challenge, the public-private joint demonstration project that provides the basis for jointly studying the construction and operation of vertiports, airports for UAMs.

Hyundai will push forward developing the UAM business and securing business cases while IIAC will work to establish the infrastructure and study feasibility of utilising UAM as airport shuttles. Hyundai Construction will utilise its expertise to build vertiports as well as the transit hub that will connect UAM to other public transportations. KT will set up the communications infrastructure and make business cases for UAM as a mobility service. All four parties will be sharing necessary information during the development as well as jointly working on test flights.

The breadth and depth of this partnership shows what it will take to build a comprehensive UAM ecosystem to serve megacities like Seoul. Building a robust infrastructure and business model is just as important as developing innovative UAM vehicles. This partnership demonstrates Hyundai's commitment to facilitating progress for humanity by ushering in a new era of urban air mobility that will revolutionise transportation.

Jaiwon Shin

Executive Vice President and Head of Urban Air Mobility Division at Hyundai Motor

At CES 2020, Hyundai unveiled its innovative vision for urban mobility and its first concept Urban Air Mobility vehicle equipped with eVTOL. More information on Hyundai's announcement at CES 2020 can be found here.

(C) 2020 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
HYUNDAI ENGINEERING & CONSTRUCTION CO., LTD. -4.36% 42800 End-of-day quote.14.29%
HYUNDAI HCN CO.,LTD. -2.52% 3670 End-of-day quote.-4.80%
HYUNDAI MOTOR COMPANY -4.19% 240000 End-of-day quote.25.00%
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Financials
Sales 2020 291 B 0,26 B 0,26 B
Net income 2020 39,4 B 0,04 B 0,04 B
Net cash 2020 414 B 0,38 B 0,38 B
P/E ratio 2020 10,5x
Yield 2020 1,91%
Capitalization 404 B 367 M 366 M
EV / Sales 2020 1 388x
EV / Sales 2021 1 383x
Nbr of Employees 73
Free-Float 31,4%
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Technical analysis trends HYUNDAI HCN CO.,LTD.
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TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
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Mean consensus BUY
Number of Analysts 1
Average target price 5 000,00 KRW
Last Close Price 3 670,00 KRW
Spread / Highest target 36,2%
Spread / Average Target 36,2%
Spread / Lowest Target 36,2%
EPS Revisions
Managers and Directors
NameTitle
Sung-Taek Ryu Chief Executive Officer & Director
Yong-Pyo Gong Independent Director
Dong-Su Kim Independent Director
Seung-Kwon Park Independent Director
Young-Sik Yoon Director
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