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    A000660   KR7000660001

SK HYNIX INC.

(A000660)
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End-of-day quote Korea Stock Exchange  -  05-23
108500.00 KRW   -3.98%
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LG Energy Solution, GM to build $2.1 billion battery factory in U.S.

01/25/2022 | 11:44am EDT
FILE PHOTO: Logo of GM atop the company headquarters

SEOUL (Reuters) - South Korea's LG Energy Solution (LGES) plans to spend $2.1 billion with General Motors to build a U.S. electric vehicle (EV) battery plant, parent firm LG Chem said on Tuesday.

LGES and GM are expected to fund the project equally via Ultium Cells, their U.S.-based battery joint venture, for what will be their third joint battery plant in the United States, LG Chem's regulatory filings showed.

LGES declined to provide detail on the location or production capacity of the new plant.

In December, Reuters reported that GM had proposed building a $2.5 billion battery plant near Lansing, Michigan, with LGES.

LGES commands more than 20% of the global electric vehicle battery market and supplies Tesla Inc, Volkswagen AG and Hyundai Motor Co, among others.

It is already building two plants with GM in Ohio and Tennessee to manufacture 70 GWh of batteries, which could power about 1 million EVs by 2024.

LGES has production sites in the United States, China, South Korea, Poland and Indonesia.

Its announcement came ahead of the company's market debut later this week after launching South Korea's biggest ever IPO.

The IPO attracted $12.8 trillion worth of bids from institutional investors and $96 billion from retail investors.

The IPO price values LGES at about 70.2 trillion won ($58.57 billion) and will make it South Korea's third most-valuable company after Samsung Electronics Co and SK Hynix Inc.

($1 = 1,198.5800 won)

(Reporting by Heekyong Yang; editing by Jason Neely)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
GENERAL MOTORS COMPANY -2.78% 35.02 Delayed Quote.-38.60%
HYUNDAI CORPORATION -2.96% 18050 End-of-day quote.7.44%
HYUNDAI CORPORATION HOLDINGS CO., LTD. -3.66% 11850 End-of-day quote.-0.42%
HYUNDAI MOTOR COMPANY -1.60% 185000 End-of-day quote.-11.48%
LG CHEM, LTD. -0.74% 539000 End-of-day quote.-12.36%
LG CORP. -0.40% 75100 End-of-day quote.-7.17%
SAMSUNG ELECTRONICS CO., LTD. -2.06% 66500 End-of-day quote.-15.07%
SK HYNIX INC. -3.98% 108500 End-of-day quote.-17.18%
TESLA, INC. -7.66% 622.6613 Delayed Quote.-36.14%
VOLKSWAGEN AG -1.61% 145.44 Delayed Quote.-16.71%
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Analyst Recommendations on SK HYNIX INC.
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Financials
Sales 2022 58 034 B 45,9 B 45,9 B
Net income 2022 12 443 B 9,84 B 9,84 B
Net Debt 2022 6 280 B 4,97 B 4,97 B
P/E ratio 2022 6,19x
Yield 2022 1,58%
Capitalization 74 607 B 59 027 M 59 027 M
EV / Sales 2022 1,39x
EV / Sales 2023 1,10x
Nbr of Employees 29 711
Free-Float 73,9%
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Technical analysis trends SK HYNIX INC.
Short TermMid-TermLong Term
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 35
Last Close Price 108 500,00 KRW
Average target price 160 441,18 KRW
Spread / Average Target 47,9%
EPS Revisions
Managers and Directors
Seok-Hee Lee President, Chief Executive Officer & Director
Jung-Ho Park Co-Chief Executive Officer & Director
Kwon Hong Managing Director & Head-Finance
Tae-Won Chey Chairman-Executive Board
Tae-Hoon Kim Managing Director & Head-Technology
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