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MarketScreener Homepage  >  Equities  >  Korea Stock Exchange  >  Kia Motors Corporation    A000270   KR7000270009

KIA MOTORS CORPORATION

(A000270)
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Hyundai Motor shares rise as much as 10% on Ioniq EV plan

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08/10/2020 | 08:28am EDT
FILE PHOTO: The Hyundai logo is seen at the Paris auto show

Hyundai Motor Co stock jumped as much as 10.2% on Monday to its highest price since May 2018, after the automaker said it would create a family of Ioniq-brand electric vehicles (EVs) as it aims to become the third-largest EV maker by 2025.

In an announcement earlier on Monday, Hyundai said the elevation of Ioniq from individual vehicle nameplate to a brand will support its goal of capturing 10% of global EV sales within five years.

Hyundai shares reached as much as to 162,000 won ($136.47) in a broader KOSPI market that was up 0.4% at 0122 GMT.

Other auto shares also rose, with affiliate automaker Kia Motors Corp up 5.6% and parts suppliers Hyundai Mobis Co Ltd and Mando Corp climbing as much as 7.4% and 5.3% respectively.

"With the launch of a new EV family brand, shares of Hyundai Motor are rallying today, reflecting investors' hope that the auto industry will outperform compared to other industries," said analyst Kwon Soon-woo at SK Securities.

Trevor Milton, chief executive of EV startup Nikola Corp, said he would like to cooperate with Hyundai in an interview with the Chosun Ilbo newspaper published on Sunday. He said he had twice made proposals to Hyundai that were rejected.

Hyundai Motor declined to comment when contacted by Reuters.

Hyundai Motor Group leader Euisun Chung last month said Hyundai Motor and Kia Motors aim to sell 1 million battery-driven electric vehicles in 2025, together targeting more than 10% of the global market share for such vehicles.

On Monday, Hyundai said that starting in early 2021, it would introduce three all-electric models under the Ioniq brand.

They include the Ioniq 5, a midsize crossover based on the 2019 Hyundai 45 concept; in 2022, the Ioniq 6 sedan, based on the Hyundai Prophecy concept unveiled earlier this year; and in early 2024, the Ioniq 7, a large crossover.

($1 = 1,187.0900 won)

By Heekyong Yang and Joori Roh

Stocks mentioned in the article
ChangeLast1st jan.
HYUNDAI CORPORATION -3.36% 14400 End-of-day quote.-19.55%
HYUNDAI MOBIS CO.,LTD -2.56% 228000 End-of-day quote.-10.94%
HYUNDAI MOTOR COMPANY 0.00% 179500 End-of-day quote.48.96%
KIA MOTORS CORPORATION -0.65% 46000 End-of-day quote.3.84%
KOSPI COMPOSITE INDEX -2.43% 2280.65 Real-time Quote.6.30%
MANDO CORPORATION 4.78% 36150 End-of-day quote.2.70%
NIKOLA CORPORATION -12.67% 18.4598 Delayed Quote.104.94%
SK SECURITIES CO., LTD. 0.57% 701 End-of-day quote.15.49%
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Financials
Sales 2020 57 097 B 48,6 B 48,6 B
Net income 2020 1 471 B 1,25 B 1,25 B
Net cash 2020 1 500 B 1,28 B 1,28 B
P/E ratio 2020 12,5x
Yield 2020 2,34%
Capitalization 17 861 B 15 279 M 15 200 M
EV / Sales 2020 313x
EV / Sales 2021 280x
Nbr of Employees -
Free-Float 60,3%
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Technical analysis trends KIA MOTORS CORPORATION
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Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 28
Average target price 49 750,00 KRW
Last Close Price 46 000,00 KRW
Spread / Highest target 41,3%
Spread / Average Target 8,15%
Spread / Lowest Target -19,6%
EPS Revisions
Managers
NameTitle
Ho-Sung Song President, Co-Chief Executive Officer & Director
Jun-Young Choi Co-Chief Executive Officer, Director & VP
Woo-Jung Joo Director, Senior Managing Director & Head-Finance
Eui-Sun Chung Senior Vice Chairman
Sang-Koo Nam Independent Director
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