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MarketScreener Homepage  >  Equities  >  Korea Stock Exchange  >  Hyundai Motor Company    A005380   KR7005380001

HYUNDAI MOTOR COMPANY

(A005380)
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HYUNDAI MOTOR TO ACCELERATE URBAN AIR MOBILITY TEST FLIGHTS IN PARTNERSHIP WITH INCHEON AIRPORT, HYUNDAI CONSTRUCTION, KT

09/22/2020 | 09:05am EST

- Four companies will work to accelerate the development of Urban Air Mobility and establish basis for test flights under the agreement·

- The work undertaken by the partnership will align with the Korean UAM Roadmap·

- The partnership will support building a robust infrastructure and business model as well as innovative UAM vehicles

Leatherhead - Hyundai Motor Company is partnering with Incheon International Airport Corp. (IIAC), Hyundai Engineering & Construction Co. and KT Corp. to accelerate the development of Urban Air Mobility (UAM) and work together to conduct test flights. With a memorandum of understanding signed on September 18, the four parties will work toward commercialising UAM by 2028.

In June 2020, the Korean government announced the Korean UAM Roadmap, outlining steps needed to commercialise UAM. Hyundai Motor and its partners will align with the roadmap that includes the Korean UAM Grand Challenge, the public-private joint demonstration project that provides the basis for jointly studying the construction and operation of vertiports, airports for UAMs.

Hyundai will push forward developing the UAM business and securing business cases while IIAC will work to establish the infrastructure and study feasibility of utilising UAM as airport shuttles. Hyundai Construction will utilise its expertise to build vertiports as well as the transit hub that will connect UAM to other public transportations. KT will set up the communications infrastructure and make business cases for UAM as a mobility service. All four parties will be sharing necessary information during the development as well as jointly working on test flights.

"The breadth and depth of this partnership shows what it will take to build a comprehensive UAM ecosystem to serve megacities like Seoul," said Jaiwon Shin, Executive Vice President and Head of Urban Air Mobility Division at Hyundai Motor. "Building a robust infrastructure and business model is just as important as developing innovative UAM vehicles. This partnership demonstrates Hyundai's commitment to facilitating progress for humanity by ushering in a new era of urban air mobility that will revolutionise transportation."

At CES 2020, Hyundai unveiled its innovative vision for urban mobility and its first concept Urban Air Mobility vehicle equipped with eVTOL. More information on Hyundai's announcement at CES 2020 can be found here.

- End -

About Hyundai Motor

Established in 1967, Hyundai Motor Company is committed to becoming a lifetime partner in automobiles and beyond with its range of world-class vehicles and mobility services offered available in more than 200 countries. Employing more than 110,000 employees worldwide, Hyundai sold more than 4.5 million vehicles globally. Hyundai continues to enhance its product line-up with vehicles that are helping to build solutions for a more sustainable future, such as NEXO - the world's first dedicated hydrogen-powered SUV.

About Hyundai Motor UK

Hyundai has sold vehicles in the UK since 1982. In 2005, Hyundai opened its own UK subsidiary, Hyundai Motor UK Ltd, based in High Wycombe. Since 2008, the company has risen from 23rd to one of the top 10 car manufacturers in the UK and last year sold 83,284 vehicles with a 3.6% market share. Hyundai Motor UK employs more than 3,000 people through its UK operations and dealer network. Hyundai offers consumers the broadest range of alternative fuel vehicles from the electrified IONIQ range, the 278 mile range KONA Electric and the hydrogen fuel cell NEXO, as well as award winning internal combustion engine vehicles such as the i10 city car, the high performance N range and the trusted and capable SUV ranges of KONA, Tucson and Santa Fe. All passenger cars come with Hyundai's industry-leading 5 Year Unlimited Mileage Warranty package. Further information about Hyundai and its products is available at www.hyundai.co.uk.

Follow us on Twitter @Hyundai_UK_PR

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(C) 2020 M2 COMMUNICATIONS, source M2 PressWIRE

Stocks mentioned in the article
ChangeLast1st jan.
HYUNDAI HCN CO.,LTD. -0.46% 3275 End-of-day quote.-3.96%
HYUNDAI MOTOR COMPANY 7.67% 196500 End-of-day quote.63.07%
KT CORPORATION 0.21% 24350 End-of-day quote.-9.81%
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Sales 2020 104 088 B 95,9 B 95,9 B
Net income 2020 1 874 B 1,73 B 1,73 B
Net Debt 2020 57 035 B 52,5 B 52,5 B
P/E ratio 2020 26,6x
Yield 2020 1,91%
Capitalization 41 378 B 37 885 M 38 109 M
EV / Sales 2020 398x
EV / Sales 2021 358x
Nbr of Employees -
Free-Float 71,0%
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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%
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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
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