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    A005380   KR7005380001

HYUNDAI MOTOR COMPANY

(A005380)
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Hyundai Motor, LG Energy Solution Plan $1.1 Billion Battery Plant in Indonesia

07/28/2021 | 11:02pm EDT

By Kwanwoo Jun

Hyundai Motor Co. said Thursday that it and LG Energy Solution, a South Korean battery maker affiliated with LG Chem Ltd., will set up a $1.1 billion joint venture in Indonesia.

The JV, which will be owned evenly by the two companies, will be completed by 2023 to start producing battery cells the following year, Hyundai Motor said.

Hyundai Motor said it expects the plant in Indonesia, rich in nickel used to make lithium batteries, to help it and its sister car maker Kia Corp. secure a stable supply of electric-vehicle batteries in the future.

The plant, to be built in Karawang Regency near Jakarta, will have an annual output of 10 gigawatt-hours of battery cells.

Hyundai Motor said it and LG Energy Solution signed a memorandum of understanding in Seoul on Wednesday with senior Indonesian officials on the battery-cell plant project.

LG Energy Solution, spun off from LG Chem in late 2020, plans to go public in South Korea later this year.

LG Chem earlier this month announced a nearly $9 billion new investment plan, setting aside a big chunk of investment to boost its output of materials used for batteries.

Write to Kwanwoo Jun at kwanwoo.jun@wsj.com

(END) Dow Jones Newswires

07-28-21 2301ET

Stocks mentioned in the article
ChangeLast1st jan.
HYUNDAI MOTOR COMPANY 0.48% 209000 End-of-day quote.8.85%
LG CHEM, LTD. -2.09% 701000 End-of-day quote.-14.93%
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Analyst Recommendations on HYUNDAI MOTOR COMPANY
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Financials
Sales 2021 118 731 B 101 B 101 B
Net income 2021 6 192 B 5,28 B 5,28 B
Net Debt 2021 70 598 B 60,2 B 60,2 B
P/E ratio 2021 8,46x
Yield 2021 1,90%
Capitalization 44 129 B 37 313 M 37 642 M
EV / Sales 2021 0,97x
EV / Sales 2022 0,88x
Nbr of Employees 70 388
Free-Float 70,8%
Chart HYUNDAI MOTOR COMPANY
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Hyundai Motor Company Technical Analysis Chart | A005380 | KR7005380001 | MarketScreener
Technical analysis trends HYUNDAI MOTOR COMPANY
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TrendsNeutralBearishNeutral
Income Statement Evolution
Consensus
Sell
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Mean consensus BUY
Number of Analysts 31
Last Close Price 209 000,00 KRW
Average target price 307 129,03 KRW
Spread / Average Target 47,0%
EPS Revisions
Managers and Directors
Eui-Sun Chung Vice Chairman & Co-Chief Executive Officer
Chang Jae-hoon Co-President & Co-Chief Executive Officer
Albert Biermann Co-President & Director
Eon-Tae Ha Co-President & Director
Moon-Sik Kwon Vice Chairman-Executive Board, Head-R&D
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