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    A005380   KR7005380001

HYUNDAI MOTOR COMPANY

(A005380)
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End-of-day quote Korea Stock Exchange  -  2022-06-23
173000.00 KRW   +1.17%
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Foreign automakers see their chance in Japan with electric vehicles

02/17/2022 | 06:17am EDT
Toyota Motor Corporation's cars are seen after briefing on battery EV strategy in Tokyo

TOKYO (Reuters) - In September, Narumi Abe did something still rare in Japan: she bought a foreign car, picking a Peugeot e-208 over a Honda e because, she said, the Peugeot can travel longer distances between charges.

Abe joined a tiny, but growing, band of Japanese drivers who are eschewing home brands for foreign battery electric vehicles (EVs).


GRAPHIC: Sales growth of imported battery EVs in Japan -

While the trend is unlikely to make a big dent in overall sales, it highlights a perception that many domestic automakers have been slower to embrace battery EVs, focusing instead on hybrids, hydrogen fuel-cells and alternative fuel for internal combustion engines.

"I wanted to buy something that would be best for the environment," said the 30-year-old, who runs a company in Tokyo selling farm produce.

Toyota has committed 8 trillion yen ($69 billion) on electrification up to 2030 and expects to sell around 3.5 million battery EVs worldwide by then. That represents around a third of Toyota's current annual auto sales.

Germany's Volkswagen AG predicts half its cars will be battery EVs by then.

Nine tenths of the five million cars sold annually in Japan are from domestic firms such as Toyota Motor Corp, Honda Motor Co and Nissan Motor Co.

But while overall car sales in Japan, not including small light vehicles, dipped 3.2% last year, sales of foreign models rose 1.7%. Imports of battery EVs jumped almost three times to a record 8,610 vehicles, according to the Japan Automobile Importers Association.

Analysts estimate around half of those were Tesla Inc cars. Volkswagen, Europe's biggest carmaker, is one of the foreign makers that see a battery-EV opening in Japan.

It plans to sell more than a dozen such models in Japan by 2024, including cheaper Audi and Volkswagen sports utility models this year that will target a broader swathe of consumers, country manager Matthias Schepers told a news conference in January.

It expects battery EVs to account for a third of Audi sales, or around 10,000 vehicles, in Japan for 2025, he said. The VW group will expand the installation of fast chargers to 250 of its own showrooms by the end of this year, he said.

Stellantis, the owner of the Peugeot brand that Abe bought, is also expanding its line-up in Japan, with two new models going on sale this year.

They are being joined by South Korea's Hyundai Motor Co, which this month said it is returning to Japan 12 years after it left because of poor sales. Japanese drivers will be able to order its Nexo SUV hydrogen fuel cell EV and its Ioniq 5 midsize crossover battery EV from May.

To bolster its chance of success this time round, the South Korean company has tied up with a car sharing service operated by online social gaming company DeNA Co and insurance company Sompo Holdings to let Hyundai owners rent out their zero emission cars.

(Reporting by Maki Shiraki, writing by Tim Kelly; Editing by David Dolan and Neil Fullick)

By Maki Shiraki


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
DENA CO., LTD. 1.07% 1800 Delayed Quote.1.64%
HONDA MOTOR CO., LTD. -1.43% 3320 Delayed Quote.2.79%
HYUNDAI CORPORATION 5.45% 14500 End-of-day quote.-13.69%
HYUNDAI MOTOR COMPANY 1.17% 173000 End-of-day quote.-17.22%
NISSAN MOTOR CO LTD -1.16% 544.5 Delayed Quote.-2.03%
SOMPO HOLDINGS INC. -3.01% 5767 Delayed Quote.18.69%
STELLANTIS N.V. 1.73% 12.432 Real-time Quote.-25.46%
STELLANTIS N.V. 1.75% 12.428 Delayed Quote.-25.52%
TESLA, INC. 4.52% 737.12 Delayed Quote.-30.25%
TOYOTA INDUSTRIES CORPORATION -0.37% 8140 Delayed Quote.-11.43%
TOYOTA MOTOR CORPORATION -0.71% 2111.5 Delayed Quote.0.29%
VOLKSWAGEN AG 0.09% 139.18 Delayed Quote.-21.58%
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Financials
Sales 2022 129 351 B 100 B 100 B
Net income 2022 6 554 B 5,08 B 5,08 B
Net Debt 2022 80 822 B 62,6 B 62,6 B
P/E ratio 2022 6,66x
Yield 2022 2,93%
Capitalization 36 250 B 28 086 M 28 086 M
EV / Sales 2022 0,91x
EV / Sales 2023 0,85x
Nbr of Employees 70 388
Free-Float 69,7%
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Number of Analysts 27
Last Close Price 173 000,00 KRW
Average target price 259 629,63 KRW
Spread / Average Target 50,1%
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Managers and Directors
Eui-Sun Chung Vice Chairman & Co-Chief Executive Officer
Chang Jae-hoon Executive Vice President
Albert Biermann Co-President & Director
Eon-Tae Ha Co-President & Director
Moon-Sik Kwon Vice Chairman-Executive Board, Head-R&D
Sector and Competitors
1st jan.Capi. (M$)
HYUNDAI MOTOR COMPANY-17.22%28 086
TOYOTA MOTOR CORPORATION0.29%214 651
VOLKSWAGEN AG-21.58%86 599
MERCEDES-BENZ GROUP AG-13.36%66 086
BMW AG-15.31%51 937
GENERAL MOTORS COMPANY-43.73%50 776