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    A000270   KR7000270009

KIA CORPORATION

(A000270)
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End-of-day quote Korea Stock Exchange  -  2022-08-11
82400.00 KRW   +1.98%
04:40pBiden to sign law on Tuesday cutting most current EV credits
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08/12Audi, Porsche, Kia say U.S. EV buyers will lose tax credit under legislation
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08/11EU, South Korea say U.S. plan for EV tax breaks may breach WTO rules
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S.Korea's Kia adopts CATL batteries for EV sold at home - media report

06/21/2022 | 08:07pm EDT
The logo of Kia Corp is seen on its electric vehicle EV6 during a photo opportunity in Seoul

SEOUL (Reuters) - South Korea's Kia Corp has chosen batteries from China's CATL for an electric vehicle (EV) to be sold domestically, a newspaper said on Wednesday, the first time it will use EV batteries from another country for local sales.

The Hyundai Motor Co affiliate has decided to use Contemporary Amperex Technology Co Ltd (CATL) batteries for its electric crossover SUV Niro to expand its battery vendors, Hankook Ilbo newspaper reported, citing an unnamed Kia official.

The automaker also factored in cost-competitiveness when making its decision, the report said.

Kia and CATL were not immediately available for comment when contacted by Reuters.

The newspaper said Kia had not yet disclosed its decision to adopt CATL's batteries to its customers.

Hyundai Motor and Kia have so far used batteries made by South Korean firms, including LG Energy Solution Ltd (LGES) and SK Innovation's SK On, for electric vehicles for the South Korean market.

CATL, whose clients include Tesla Inc and Volkswagen AG, is the world's largest battery maker with more 35% of the global EV battery market share, according to industry tracker SNE Research.

Three major South Korean battery makers - LGES, SK On and Samsung SDI Co Ltd - together command more than a quarter of the global market.

(Reporting by Heekyong Yang; editing by Richard Pullin)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
CONTEMPORARY AMPEREX TECHNOLOGY CO., LIMITED 2.81% 516.1 End-of-day quote.-12.23%
HANKOOK & COMPANY CO., LTD. 0.38% 13300 End-of-day quote.-15.29%
HANKOOK TIRE & TECHNOLOGY CO., LTD. -0.25% 39400 End-of-day quote.-0.76%
HYUNDAI CORPORATION 1.16% 17500 End-of-day quote.4.17%
HYUNDAI MOTOR COMPANY 1.55% 196000 End-of-day quote.-6.22%
KIA CORPORATION 1.98% 82400 End-of-day quote.0.24%
LG ENERGY SOLUTION, LTD. -2.44% 460500 End-of-day quote.0.00%
SAMSUNG ELECTRONICS CO., LTD. 0.50% 60200 End-of-day quote.-23.12%
SAMSUNG SDI CO., LTD. 0.65% 623000 End-of-day quote.-4.89%
SK INNOVATION CO., LTD. 0.50% 199500 End-of-day quote.-16.35%
TESLA, INC. 3.10% 927.96 Delayed Quote.-12.19%
VOLKSWAGEN AG 1.15% 150.02 Delayed Quote.-15.47%
All news about KIA CORPORATION
04:40pBiden to sign law on Tuesday cutting most current EV credits
RE
08/12Audi, Porsche, Kia say U.S. EV buyers will lose tax credit under legislation
RE
08/11EU, South Korea say U.S. plan for EV tax breaks may breach WTO rules
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08/11Hyundai Motor, Kia Receive Order for 3,140 EVs from US Startup Autonomy
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08/08Hyundai Motor Group's Eco-Friendly Vehicle Sales Surpass One Million
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08/08Kia to recall 105,000 Rio cars in Russia
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08/04Most Business Sectors in Asia Log Higher Output in July, S&P Survey Shows
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08/04Hyundai Motor, Affiliate Kia's July Sales Fall 11% in the US on Shortage of Chips
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08/02South Korean Stocks Break Six-Day Winning Streak; Kia Shares Add 1%
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08/02Kia's July Sales Jump 6.3% on Higher SUV Sales
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Analyst Recommendations on KIA CORPORATION
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Financials
Sales 2022 83 817 B 64,0 B 64,0 B
Net income 2022 6 226 B 4,75 B 4,75 B
Net cash 2022 9 257 B 7,06 B 7,06 B
P/E ratio 2022 5,52x
Yield 2022 4,00%
Capitalization 33 037 B 25 209 M 25 209 M
EV / Sales 2022 0,28x
EV / Sales 2023 0,23x
Nbr of Employees -
Free-Float 62,2%
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Mean consensus BUY
Number of Analysts 27
Last Close Price 82 400,00 KRW
Average target price 115 000,00 KRW
Spread / Average Target 39,6%
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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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