Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Korea, republic of
  4. Korea Stock Exchange
  5. Hyundai Motor Company
  6. News
  7. Summary
    A005380   KR7005380001

HYUNDAI MOTOR COMPANY

(A005380)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

S. Korea's Hyundai, LG begin building EV battery plant in Indonesia

09/15/2021 | 08:48am EDT

South Korea'sHyundai Motor Group and LG Energy Solution Ltd. on Wednesday began building a $1.1 billion lithium ion battery cell plant for electric vehicles in Indonesia, which Indonesian President Joko Widodo said would be the first in Southeast Asia.

Breaking ground for the construction of PT HKML Battery Indonesia plant, scheduled to commence production in the first half of 2024, Widodo called it one of his government's "major strategies for immediately getting out of the trap as a raw material exporting country."

"Indonesia has the biggest nickel reserves in the world," the president said during the hybrid groundbreaking ceremony in Karawang, a new industrial city in West Java Province.

"With such a potential, I believe that within three or four years, under a good management, Indonesia can become the main producer of nickel-based products, such as lithium batteries, electric batteries and electric vehicle batteries," he added.

Hyundai Motor Group Chairman Chung Euisu said that by developing the industry, "Indonesia is expected to play an important role as the center for the ASEAN electric vehicle market in the future."

The reference was to the 10-member Association of Southeast Asian Nations, of which Indonesia is a leading member.

LG Energy Solution Ltd. CEO Kim Jong Hyun expressed his belief that once the factory is completely built, Indonesia will be one step closer to building the world's first supply chain of integrated electric vehicles.

Both Chung and Kim appeared virtually in the hybrid groundbreaking ceremony.

For building the factory, Hyundai Motor Group set up a consortium comprising Hyundai Motor Co., KIA Corp., Hyundai Mobis and LG Energy Solution, teaming up with the Indonesia Battery Corp.

Investment Minister Bahlil Lahadalia said the plant's construction is part of a $9.8 billion integrated electric vehicle battery project plan under an agreement with South Korea.

According to a press statement by Hyundai's subsidiary PT Hyundai Motors Indonesia, the plant will have an annual capacity of 10 gigawatts, enough to cover approximately 150,000 electric vehicles.

Indonesia has intensively planned to move up its electric vehicle supply chain from mining the ore to refining it and manufacturing the batteries and vehicles.

The Ministry of State Enterprise said the country holds 24 percent of the world's nickel reserves, followed by Australia and Brazil.

==Kyodo

© Kyodo News International, Inc., source Newswire

Stocks mentioned in the article
ChangeLast1st jan.
HYUNDAI FUTURENET CO., LTD -1.02% 4830 End-of-day quote.25.29%
HYUNDAI MOBIS CO.,LTD -1.12% 264500 End-of-day quote.3.52%
HYUNDAI MOTOR COMPANY 0.00% 207500 End-of-day quote.8.07%
All news about HYUNDAI MOTOR COMPANY
10/21HYUNDAI CONSTRUCTION EQUIPMENT : to Sell Industrial Vehicle Unit for $116 Million; Shares ..
MT
10/21BlackRock Reportedly Nears Investing 500 million Euros in Germany's Ionity
MT
10/21Asia's naphtha prices, margins hit 2014 highs on demand growth, costly LPG
RE
10/21BlackRock close to investing 500 million euros in Ionity -sources
RE
10/21HYUNDAI FUTURENET : TUCSON and IONIQ 5 triumph at Business Car Awards
AQ
10/21KOREA AEROSPACE INDUSTRIES : S.Korea's launch of space rocket boosts its homegrown contrac..
RE
10/21Seoul files complaint against unionists who rallied in 'Squid Game' costume
RE
10/21South Korean Stocks Decline on Inflation Concerns; Hyundai Glovis Shares Add 1%
MT
10/21HYUNDAI GLOVIS : Enters Cooperation With Air Products to Set up Liquid Hydrogen Supply Net..
MT
10/21HYUNDAI MOTOR : Capital Services Files for Singapore Listing of $51 Million Hong Kong Doll..
MT
More news
Analyst Recommendations on HYUNDAI MOTOR COMPANY
More recommendations
Financials
Sales 2021 117 433 B 99,7 B 99,7 B
Net income 2021 6 050 B 5,14 B 5,14 B
Net Debt 2021 71 165 B 60,4 B 60,4 B
P/E ratio 2021 8,59x
Yield 2021 1,97%
Capitalization 43 795 B 37 177 M 37 182 M
EV / Sales 2021 0,98x
EV / Sales 2022 0,90x
Nbr of Employees 70 388
Free-Float 70,8%
Chart HYUNDAI MOTOR COMPANY
Duration : Period :
Hyundai Motor Company Technical Analysis Chart | A005380 | KR7005380001 | MarketScreener
Technical analysis trends HYUNDAI MOTOR COMPANY
Short TermMid-TermLong Term
TrendsNeutralBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 30
Last Close Price 207 500,00 KRW
Average target price 297 333,33 KRW
Spread / Average Target 43,3%
EPS Revisions
Managers and Directors
Eui-Sun Chung Vice Chairman & Co-Chief Executive Officer
Chang Jae-hoon Co-President & Co-Chief Executive Officer
Albert Biermann Co-President & Director
Eon-Tae Ha Co-President & Director
Moon-Sik Kwon Vice Chairman-Executive Board, Head-R&D
Sector and Competitors
1st jan.Capi. (M$)
HYUNDAI MOTOR COMPANY8.07%37 198
TOYOTA MOTOR CORPORATION24.64%241 528
VOLKSWAGEN AG25.84%140 407
DAIMLER AG41.43%101 814
GENERAL MOTORS COMPANY40.27%84 795
GREAT WALL MOTOR COMPANY LIMITED27.82%71 798