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    A000270   KR7000270009

KIA CORPORATION

(A000270)
  Report
End-of-day quote Korea Stock Exchange  -  2023-01-31
69500.00 KRW   +4.04%
02/02Kia announces January 2023 global sales results
AQ
02/02Georgia lawmakers commend Kia for manufacturing and its impact to the state
AQ
02/02Dovish US Fed Pivot, Stronger Won Buoy South Korean Shares
MT
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Hyundai Motor, LGES consider building two JV battery plants in U.S. -report

11/27/2022 | 10:17pm EST
FILE PHOTO: An employee walks past the logo of LG Energy Solution at its office building in Seoul

SEOUL (Reuters) - South Korea's Hyundai Motor Co and LG Energy Solution Ltd (LGES) are considering building two joint venture battery plants in the United States, a local online news outlet reported on Monday.

Under the contemplated plan, the plants would be built in Georgia and each have an annual capacity of about 35 gigawatt hours (GWh), enough to power about 1 million electric vehicles (EVs), said the news service, Dailian, citing an unnamed source.

LGES declined to comment. Hyundai Motor was not immediately available for comment when contacted by Reuters.

The report added that the new factories were likely to be located near Hyundai Motor Group's new EV plant in Georgia and would help the company meet U.S. EV subsidy rules.

The U.S. Inflation Reduction Act will require from next year that at least 40% of the monetary value of critical minerals for batteries be from the United States or a U.S. free-trade partner to qualify for U.S. tax credits. That share will rise to 80% in 2027.

A South Korean newspaper on Friday reported that Hyundai Motor and SK On, the battery unit of energy group SK Innovation Co Ltd, planned to invest about 2.5 trillion won ($1.87 billion) to build a new joint venture factory in Georgia.

Last year, Hyundai Motor Group and LG Energy Solution said they would set up a $1.1 billion EV battery joint venture in Indonesia.

($1 = 1,337.9300 won)

(Reporting by Heekyong Yang; Editing by Bradley Perrett)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
HYUNDAI CORPORATION -0.18% 16550 End-of-day quote.2.16%
HYUNDAI MOTOR COMPANY 1.80% 170000 End-of-day quote.12.58%
KIA CORPORATION 4.04% 69500 End-of-day quote.17.20%
LG ENERGY SOLUTION, LTD. 0.19% 522000 End-of-day quote.19.86%
SK INNOVATION CO., LTD. 5.24% 170600 End-of-day quote.10.78%
All news about KIA CORPORATION
02/02Kia announces January 2023 global sales results
AQ
02/02Georgia lawmakers commend Kia for manufacturing and its impact to the state
AQ
02/02Dovish US Fed Pivot, Stronger Won Buoy South Korean Shares
MT
02/02Kia Motors Posts 9% Jump in January Vehicle Sales
MT
02/01India raises tax on imported cars, motorbikes, including EVs
RE
01/30Russian carmaker Avtotor launches production of Chinese Kaiyi cars
RE
01/30Kia's Net Income, Sales Soar in Q4
MT
01/27Kia announces 2022 fourth quarter business results
AQ
01/27Kia Corporation announces an Equity Buyback for 7,215,007 shares.
CI
01/27Kia Corporation authorizes a Buyback Plan.
CI
More news
Analyst Recommendations on KIA CORPORATION
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Financials
Sales 2022 86 952 B 69,9 B 69,9 B
Net income 2022 5 323 B 4,28 B 4,28 B
Net cash 2022 9 631 B 7,75 B 7,75 B
P/E ratio 2022 5,39x
Yield 2022 4,49%
Capitalization 28 546 B 22 958 M 22 958 M
EV / Sales 2022 0,22x
EV / Sales 2023 0,18x
Nbr of Employees -
Free-Float 61,4%
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Technical analysis trends KIA CORPORATION
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Mean consensus BUY
Number of Analysts 28
Last Close Price 71 200,00 KRW
Average target price 96 571,43 KRW
Spread / Average Target 35,6%
EPS Revisions
Managers and Directors
Ho-Sung Song President, Co-Chief Executive Officer & Director
Jun-Young Choi Co-Chief Executive Officer, Director & VP
Woo-Jung Joo Director, VP & Head-Finance
Eui-Sun Chung Chairman
Sang-Koo Nam Independent Director
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