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    A000270   KR7000270009

KIA CORPORATION

(A000270)
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Battery maker Factorial Energy enters investment deal with Daimler, Stellantis

11/30/2021 | 06:16am EST
FILE PHOTO: The logo of Stellantis at the entrance of the company's factory in Hordain

(Reuters) - U.S. based Factorial Energy said on Tuesday it had entered into agreements with Daimler AG owned Mercedes-Benz and Stellantis NV, in a bid to commercialize its battery technology.

Under the partnerships, both Daimler and Stellantis will make a strategic investment in the solid-state battery maker, Factorial Energy said in a statement, without providing any financial details.

As transition towards greener mobility gets more traction, demand for electronic vehicles is expected to surge, more so after Daimler and five other car manufacturers committed to a pledge earlier this month to phase out fossil-fuel vehicles by 2040.

These partnerships follow Stellantis's deal with lithium developer Vulcan Energy Resources and Daimler's investment in electric vehicle charging venture Ionity's latest funding round.

"With our new partners we can develop batteries that not only enable safer and longer driving range vehicles, but that are also compatible with conventional lithium-ion battery manufacturing environments," Factorial Energy Chief Executive Officer Siyu Huang said.

Hyundai Motor Co and Kia Corp have also signed a joint partnership with Factorial Energy which Forbes reported https://www.forbes.com/sites/greggardner/2021/10/28/hyundai-kia-partner-with-factorial-energy-on-solid-state-battery-tech/?sh=4290c350b8d4 on earlier.

(Reporting by Nishit Jogi in Bengaluru; Editing by Rashmi Aich)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
DAIMLER AG 1.22% 71.29 Delayed Quote.4.32%
HYUNDAI MOTOR COMPANY -2.31% 190000 End-of-day quote.-9.09%
KIA CORPORATION 1.57% 77700 End-of-day quote.-5.47%
STELLANTIS N.V. 1.41% 17.648 Delayed Quote.4.30%
VULCAN ENERGY RESOURCES LIMITED -1.63% 8.46 Delayed Quote.-17.31%
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Analyst Recommendations on KIA CORPORATION
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Financials
Sales 2021 70 679 B 58,7 B 58,7 B
Net income 2021 4 658 B 3,87 B 3,87 B
Net cash 2021 6 087 B 5,06 B 5,06 B
P/E ratio 2021 6,70x
Yield 2021 2,06%
Capitalization 31 714 B 26 499 M 26 354 M
EV / Sales 2021 0,36x
EV / Sales 2022 0,29x
Nbr of Employees -
Free-Float 62,0%
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Technical analysis trends KIA CORPORATION
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Mean consensus BUY
Number of Analysts 29
Last Close Price 77 700,00 KRW
Average target price 118 827,59 KRW
Spread / Average Target 52,9%
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Managers and Directors
Ho-Sung Song President, Co-Chief Executive Officer & Director
Jun-Young Choi Co-Chief Executive Officer, Director & VP
Woo-Jung Joo Director, Senior Managing Director & Head-Finance
Sang-Koo Nam Independent Director
Kwi-Nam Lee Independent Director
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