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    A005380   KR7005380001

HYUNDAI MOTOR COMPANY

(A005380)
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South Korea's SK Innovation to invest $30 million in Solid Power

10/27/2021 | 09:55pm EST
FILE PHOTO: The logo of SK Innovation is seen in front of its headquarters in Seoul

SEOUL (Reuters) - South Korea's SK Innovation will invest $30 million in Ford Motor-backed solid-state battery developer Solid Power Inc, with an aim to jointly produce batteries, the companies said.

The South Korean battery maker, which supplies electric car batteries to carmakers including Ford Motor Co and Hyundai Motor Co, will buy shares in Decarbonization Plus Acquisition Corporation III, a shell company through which Solid Power plans to go public through a merger that will value the combined firm at about $1.2 billion.

"We expect our partnership with Solid Power will play a pivotal role in delivering higher energy, lower-cost batteries to power longer-range electric vehicles," SK Innovation CEO Kim Jun said in a press release.

The South Korean company in September said it planned to invest 5.1 trillion won ($4.4 billion) to build battery plants in the United States.

Solid-state batteries are a potential game changer for electric vehicles (EV) because they can store more energy, charge faster and are safer than liquid lithium-ion batteries.

They are, however, more difficult and expensive to mass produce and more prone to cracking.

Manufacturers could use existing plants make solid-state batteries, Doug Campbell, the CEO of Solid State told Reuters. The company wanted to commercialise the technology by 2026, he added.

"A solid state battery can potentially enable a dramatically simpler and ultimately lower-cost battery pack," Campbell said.

($1 = 1,172.5200 won)

(Reporting by Tim Kelly; Editing by Stephen Coates)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
HYUNDAI MOTOR COMPANY -2.14% 205500 End-of-day quote.7.03%
SK INNOVATION CO., LTD. -5.00% 209000 End-of-day quote.10.00%
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Financials
Sales 2021 117 136 B 98,2 B 98,2 B
Net income 2021 5 970 B 5,00 B 5,00 B
Net Debt 2021 69 635 B 58,4 B 58,4 B
P/E ratio 2021 8,58x
Yield 2021 1,99%
Capitalization 43 329 B 36 206 M 36 310 M
EV / Sales 2021 0,96x
EV / Sales 2022 0,88x
Nbr of Employees 70 388
Free-Float 70,8%
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Hyundai Motor Company Technical Analysis Chart | A005380 | KR7005380001 | MarketScreener
Technical analysis trends HYUNDAI MOTOR COMPANY
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 30
Last Close Price 205 500,00 KRW
Average target price 295 500,00 KRW
Spread / Average Target 43,8%
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 COMPANY7.03%36 206
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FORD MOTOR COMPANY124.69%78 926