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MarketScreener Homepage  >  Equities  >  Korea Stock Exchange  >  Hyundai Motor Company    A005380   KR7005380001

HYUNDAI MOTOR COMPANY

(A005380)
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Factbox: Battery fires put automakers in hot seat over EVs

11/18/2020 | 07:26am EST

SEOUL (Reuters) - Electric vehicles (EVs), benefiting globally from a push for tighter emissions controls, are facing challenges after a global string of fires from overheating batteries.

Here are some vehicle recalls and investigations facing major EV makers worldwide.

HYUNDAI MOTOR

After 16 Kona EVs caught fire in Korea, Canada and Europe over two years, Hyundai Motor Co is expanding a recall to cover at least 74,000 of its top-selling EVs in South Korea, the United States, Europe and Canada to update its battery management system.

About 23,000 Kona EVs in South Korea have completed the software upgrade, with 800 of them found to have battery defects requiring replacement of affected modules, according to the office of lawmaker Jang Kyung-tae, which was briefed by South Korea's transport ministry.

Hyundai, in a filing to the U.S. National Highway Traffic Safety Administration (NHTSA) in October, blamed "internal damage to certain cells of the lithium-ion battery increasing the risk of an electrical short circuit."

The battery maker, LG Chem Ltd denied any cell defects, saying a joint investigation was under way.

GENERAL MOTORS

General Motors Co said last week it was recalling nearly 69,000 Chevrolet Bolt EVs worldwide that pose a fire risk after five reported fires and two minor injuries.

Affected vehicles will get battery software updates, limiting charges to 90% of capacity.

In October, NHTSA opened a probe after reviewing reports of three Bolt EVs catching fire under the rear seat while parked. The probe covers 77,842 Bolt EVs from the 2017 through 2020 model years.

LG Chem is the supplier of the batteries.

FORD MOTOR

In September, Ford Motor Co recalled 20,500 Kuga plug-in hybrid EVs in Europe and suspended sales over battery fire concerns. There had been seven fires but no injuries.

Ford offered to replace the entire battery pack, saying the root cause had been identified as a battery-cell contamination issue in its supplier's production process, which could cause "serious consequences."

The Kuga setbacks forced the automaker to pool its fleet with other automakers to avoid a fine. It also delayed its U.S. production of its plug-in electric Escape SUV, which shares the same batteries, to next year.

Samsung SDI Co Ltd is the battery supplier.

BMW

In the United States, Bayerische Motoren Werke AG (BMW) said it will recall 4,509 plug-in hybrid EVs, saying debris may have been able to enter battery cells during production at supplier Samsung SDI.

This could lead to short-circuiting and a "thermal event" which could increase the risk of an injury, BMW said, instructing drivers not to charge their vehicles.

Altogether BMW has recalled some 26,000 plug-in hybrids, mostly in Europe, over the potential battery problems.

A spokesman at Samsung SDI said an investigation is under way about the cause of the fire, declining to elaborate further.

TESLA

NHTSA said last year that it was probing potential defects in certain Tesla Inc Model S and Model X vehicles that could result in non-crash fires in the affected battery packs.

The probe was in response to a petition from an attorney representing plaintiffs in a class-action lawsuit filed against the electric car maker last year. They claim Tesla limited the battery range of older vehicles via a software update to avoid a costly recall to fix alleged defective batteries.

Japanese battery manufacturer Panasonic Corp supplies Tesla with battery cells, while Tesla turns them into battery packs.

(Reporting by Hyunjoo Jin and Heekyong Yang; Editing by William Mallard)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
BMW AG -0.04% 71.25 Delayed Quote.-1.36%
FORD MOTOR COMPANY -0.09% 11.52 Delayed Quote.31.06%
GENERAL MOTORS COMPANY 0.58% 55.4 Delayed Quote.33.05%
HYUNDAI CORPORATION -1.40% 17550 End-of-day quote.10.03%
HYUNDAI MOTOR COMPANY -2.84% 257000 End-of-day quote.33.85%
LG CHEM, LTD. -1.32% 975000 End-of-day quote.18.33%
LG CORP. -7.36% 107000 End-of-day quote.22.29%
PANASONIC CORPORATION 3.28% 1450 End-of-day quote.21.80%
SAMSUNG ELECTRONICS CO., LTD. -1.48% 86800 End-of-day quote.7.16%
SAMSUNG SDI CO., LTD. 6.31% 792000 End-of-day quote.26.11%
SDI CORPORATION 1.11% 91 End-of-day quote.-7.33%
SDI GROUP PLC -5.49% 112 Delayed Quote.-6.28%
TESLA, INC. 0.20% 846.64 Delayed Quote.19.98%
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Financials
Sales 2020 104 009 B 94,1 B 94,1 B
Net income 2020 1 857 B 1,68 B 1,68 B
Net Debt 2020 57 402 B 51,9 B 51,9 B
P/E ratio 2020 35,1x
Yield 2020 1,46%
Capitalization 54 253 B 49 049 M 49 099 M
EV / Sales 2020 1,07x
EV / Sales 2021 0,97x
Nbr of Employees -
Free-Float 71,0%
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Technical analysis trends HYUNDAI MOTOR COMPANY
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 27
Average target price 279 148,15 KRW
Last Close Price 257 000,00 KRW
Spread / Highest target 55,6%
Spread / Average Target 8,62%
Spread / Lowest Target -45,5%
EPS Revisions
Managers and Directors
NameTitle
Eui-Sun Chung Chairman & Co-Chief Executive Officer
Won-Hui Lee Co-President, Co-CEO & Director
Eon-Tae Ha Co-Chief Executive Officer & Director
Chang Jae-hoon Co-President & Co-Chief Executive Officer
José Munoz Global Chief Operating Officer
Sector and Competitors
1st jan.Capitalization (M$)
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VOLKSWAGEN AG8.31%105 915
GENERAL MOTORS COMPANY33.05%79 294
DAIMLER AG2.21%76 927
BMW AG-1.36%55 971