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  >  Hyundai Motor Company    A005380   KR7005380001

HYUNDAI MOTOR COMPANY

(A005380)
  Report
End-of-day quote. End-of-day quote Korea Stock Exchange - 12/04
196500 KRW   0.00%
10:02aHYUNDAI MOTOR : recalls 129,000 U.S. vehicles for engine issue
RE
12/03LG Chem, SK Innovation spar over EV recalls in trade dispute
RE
12/03LG Chem, SK Innovation spar over EV recalls in trade dispute
RE
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Tesla supplier LG Chem to boost battery capacity

10/21/2020 | 03:03am EST

* Plans to triple production capacity for cylindrical batteries

* Considers expanding in Europe, North America

* Sees Q4 sales, profit growth after record Q3

* Forms task force with Hyundai over Kona EV fires

SEOUL, Oct 21 (Reuters) - Electric vehicle battery maker LG Chem plans to triple production capacity for cylindrical batteries used by Tesla and others, and is considering expansion in Europe and North America to meet surging demand, it said on Wednesday.

The South Korean firm forecast a further rise in its battery sales and profit in the fourth quarter after posting record quarterly earnings thanks to growing demand for electric vehicle (EV) batteries.

"Sales are continuously expected to grow thanks to greater shipments of automotive batteries and cylindrical batteries for EVs," said LG Chem, which also counts General Motors, Volkswagen and Hyundai Motor as customers.

It did not provide figures or a timeframe for its plans to triple cylindrical battery capacity.

LG Chem, along with CATL, supplies batteries for Tesla's made-in China models, while Panasonic makes batteries for Tesla's U.S-made cars.

LG Chem also said it was developing "new form-factor" cylindrical batteries which will boost energy density five-fold and power by six-fold, without elaborating.

These are similar to targets that Tesla announced last month for its new batteries to be made in-house, called 4680 cells, to enable a 16% increase in range for Tesla vehicles.

The CEO of LG Chem, which has production facilities in Poland, the United States, South Korea and China, shared a plan to build another site in Europe in an interview last week.

KONA EV INVESTIGATION

LG Chem said on Wednesday it had formed a task force with Hyundai to find the root cause of battery fires affecting some 14 Kona EVs in South Korea and abroad, as Hyundai plans to recall Kona EVs.

The batteries to petrochemicals maker reported a 159% jump in total operating profit to a record 902 billion won ($797 million) in the third quarter from a year earlier, in line with estimates.

Its battery division, which also includes small batteries used in Apple's iPhones, saw operating profit more than double from a year earlier to 169 billion won, thanks to rising cylindrical battery sales, new EV launches by European automakers and higher sales of new mobile devices.

Operating profit at the mainstay petrochemical business also more than doubled to 722 billion won, as the coronavirus crisis lifted demand for home appliances and hygiene products like surgical gloves.

($1 = 1,131.3900 won) (Reporting by Hyunjoo Jin and Heekyong Yang; Editing by Richard Pullin and Mark Potter)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED 1.52% 249.72 End-of-day quote.134.70%
GENERAL MOTORS COMPANY -1.10% 44.385 Delayed Quote.20.46%
HYUNDAI CORPORATION -1.00% 14900 End-of-day quote.-16.76%
HYUNDAI MOTOR COMPANY 0.00% 196500 End-of-day quote.63.07%
LG CHEM, LTD. 0.00% 846000 End-of-day quote.166.46%
LG CORP. 1.09% 74100 End-of-day quote.0.41%
PANASONIC CORPORATION 1.05% 1152.5 End-of-day quote.11.95%
TESLA, INC. 4.32% 595.1041 Delayed Quote.609.22%
VOLKSWAGEN AG -1.12% 144.56 Delayed Quote.-17.11%
All news about HYUNDAI MOTOR COMPANY
10:02aHYUNDAI MOTOR : recalls 129,000 U.S. vehicles for engine issue
RE
12/03LG Chem, SK Innovation spar over EV recalls in trade dispute
RE
12/03LG Chem, SK Innovation spar over EV recalls in trade dispute
RE
12/03Electric hypercar maker Rimac says SPAC funding hype could damage industry
RE
12/03S.Korea shares close at record high on chip, auto boost
RE
12/02UBER IN ADVANCED TALKS TO SELL AIR T : Axios
RE
12/02Hyundai Motor makes major push into electric
RE
12/02Hyundai Motor to launch dedicated EV platform in major push into electric car..
RE
12/01HYUNDAI MOTOR : Kona Electric awarded five-star Green NCAP rating
AQ
11/30HYUNDAI HCN : and NHTSA Conclude Engine Inquiry
AQ
More news
Financials
Sales 2020 104 088 B 96,2 B 96,2 B
Net income 2020 1 898 B 1,75 B 1,75 B
Net Debt 2020 57 035 B 52,7 B 52,7 B
P/E ratio 2020 26,6x
Yield 2020 1,91%
Capitalization 41 367 B 37 874 M 38 223 M
EV / Sales 2020 398x
EV / Sales 2021 358x
Nbr of Employees -
Free-Float 71,0%
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
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 26
Average target price 225 615,38 KRW
Last Close Price 196 500,00 KRW
Spread / Highest target 32,3%
Spread / Average Target 14,8%
Spread / Lowest Target -28,8%
EPS Revisions
Managers
NameTitle
Mong-Koo Chung Co-Chief Executive Officer & Honorary Chairman
Won-Hui Lee Co-President, Co-CEO & Director
Eui-Sun Chung Chairman
José Munoz Global Chief Operating Officer
Byeong-Cheol Choi Chief Financial Officer
Sector and Competitors
1st jan.Capitalization (M$)
HYUNDAI MOTOR COMPANY63.07%37 885
TOYOTA MOTOR CORPORATION-7.13%192 925
VOLKSWAGEN AG-17.11%94 185
DAIMLER AG14.99%73 797
GENERAL MOTORS COMPANY20.46%63 106
BMW AG1.57%58 162