Log in
E-mail
Password
Show 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
  1. Homepage
  2. Equities
  3. Korea, republic of
  4. Korea Stock Exchange
  5. Hyundai Motor Company
  6. News
  7. Summary
    A005380   KR7005380001

HYUNDAI MOTOR COMPANY

(A005380)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

India's top carmaker sees hydrogen as 'interesting alternative'

08/02/2021 | 09:59am EDT
FILE PHOTO: Corporate office of Maruti Suzuki India Limited is pictured in New Delhi

NEW DELHI (Reuters) - The use of hydrogen power for mobility is an "interesting alternative" for India, especially as it would reduce dependence on lithium imports, the chairman of Maruti Suzuki, India's top-selling carmaker, said on Monday.

Demand for lithium for batteries is soaring as governments across the world push automakers to meet stringent targets for cutting carbon emissions, partly by phasing out internal combustion engines.

In India, however, the adoption of electric vehicles (EVs) by carmakers has been slow due to the high cost of batteries, as well as insufficient charging infrastructure. India also does not have lithium reserves, the majority of which are controlled by China globally.

This makes EVs a hard sell in a country like India where per capita income is around $2,000, or about 5% of that in Europe and Japan, and 95% of cars sold are priced below $20,000, Maruti Chairman R.C. Bhargava told shareholders in the company's annual report.

"We need to recognise that our strategy for moving towards net zero emission has to be consistent with the economic and infrastructure conditions prevailing in the country," Bhargava said.

To reduce fuel consumption and emissions, Maruti is pushing sales of cars that operate on compressed natural gas (CNG), and is also investing in hybrid technology, he said, adding that "the use of hydrogen is also an interesting alternative".

Suzuki Motor Corp, which controls Maruti, is also prioritising development of clean technologies suitable for the Indian market, Bhargava said, adding that Suzuki's alliance with Toyota Motor Corp in Japan would prove valuable for this effort.

Bhargava's comments come as debate around EVs is gathering steam in India, with Tesla Inc lobbying the government to lower import duties on electric cars.

Tesla's demands have polarised India's auto industry, with South Korea's Hyundai Motor Co - which has a share of about 18% of the country's car market and is Maruti's closest competitor - supporting a tax cut on imports.

Maruti's comments in support of hydrogen also come weeks after Mukesh Ambani, chairman of refiner Reliance Industries, said it would invest $10 billion in clean energy, including setting up giga factories to produce fuel cells and green hydrogen.

(Reporting by Aditi Shah; Editing by David Holmes)

By Aditi Shah


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
HYUNDAI MOTOR COMPANY -0.72% 207000 End-of-day quote.7.81%
MARUTI SUZUKI INDIA LTD 1.54% 6952.25 Delayed Quote.-10.50%
RELIANCE INDUSTRIES LTD -0.29% 2482.7 Delayed Quote.25.42%
SUZUKI MOTOR CORPORATION 2.57% 5180 End-of-day quote.8.32%
TESLA, INC. 2.75% 774.39 Delayed Quote.6.80%
TOYOTA MOTOR CORPORATION 2.85% 10100 End-of-day quote.26.93%
All news about HYUNDAI MOTOR COMPANY
11:08aChina's Chengxin, Tsingshan team up for $350 million Indonesia lithium project
RE
06:22aSouth Korea Begins Testing Hydrogen-Powered Streetcars, Eyes Commercialization by 2023
MT
03:12aHYUNDAI MOTOR : Appoints Andrew Roberts as Vice President, Head of Global PR
PU
09/22Vehicle Recalls in South Korea Surpass 2 Million in First Eight Months of 2021
MT
09/22HYUNDAI MOTOR : Genesis Receive Prestigious Honors at 2021 IDEA International Design Excel..
PU
09/22Hyundai Motor's, Kia's Eco-Friendly Vehicle Sales Surge over 120% in US in August
MT
09/22German auto giants place their bets on hydrogen cars
RE
09/20HYUNDAI FUTURENET : Motor North America Appoints Jason Erb to Chief Legal Officer
AQ
09/20Hyundai Heavy Debuts on Kospi at Nearly Double the IPO Price
MT
09/20Hyundai Motor Uses Boston Dynamics' Robot for Safety Inspections at Kia Factory
MT
More news
Analyst Recommendations on HYUNDAI MOTOR COMPANY
More recommendations
Financials
Sales 2021 118 731 B 101 B 101 B
Net income 2021 6 192 B 5,24 B 5,24 B
Net Debt 2021 70 598 B 59,8 B 59,8 B
P/E ratio 2021 8,38x
Yield 2021 1,92%
Capitalization 43 725 B 37 015 M 37 035 M
EV / Sales 2021 0,96x
EV / Sales 2022 0,87x
Nbr of Employees 70 388
Free-Float 70,8%
Chart HYUNDAI MOTOR COMPANY
Duration : Period :
Hyundai Motor Company Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends HYUNDAI MOTOR COMPANY
Short TermMid-TermLong Term
TrendsNeutralBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 31
Last Close Price 207 000,00 KRW
Average target price 307 129,03 KRW
Spread / Average Target 48,4%
EPS Revisions
Managers and Directors
Eui-Sun Chung Vice Chairman & Co-Chief Executive Officer
Chang Jae-hoon Co-President & Co-Chief Executive Officer
Albert Biermann Co-President & Director
Eon-Tae Ha Co-President & Director
Moon-Sik Kwon Vice Chairman-Executive Board, Head-R&D
Sector and Competitors
1st jan.Capi. (M$)
HYUNDAI MOTOR COMPANY7.81%37 532
TOYOTA MOTOR CORPORATION23.41%247 113
VOLKSWAGEN AG24.20%139 036
DAIMLER AG26.35%91 679
GENERAL MOTORS COMPANY24.69%75 374
GREAT WALL MOTOR COMPANY LIMITED9.21%63 384