|Bid||29.00 x 40000|
|Ask||29.20 x 40000|
|Day's Range||28.70 - 29.00|
|52 Week Range||22.31 - 31.80|
|Beta (3Y Monthly)||0.39|
|PE Ratio (TTM)||7.61|
|Forward Dividend & Yield||1.57 (5.41%)|
|1y Target Est||N/A|
Going green, going clean ... Hyundai launched a first EV over three years ago ... And on Tuesday (October 15) went up a gear in its bid to bring new technology into mainstream motoring. But at a price: 35 billion dollars to be spent, it said, by 2025. With a chunk earmarked for developing self-driving cars. Top of the guest list at the announcement was South Korea's President Moon. (SOUNDBITE) (Korean) SOUTH KOREAN PRESIDENT MOON JAE-IN SAYING: "The self-driving market is a golden market to revitalise the economy and create new jobs." Moon expects half of South Korea's new cars to be self-driving by 2030. And also spoke of hydrogen power as the "future bread and butter" of Asia's number 4 economy. As well as self-driving, the carmaker's new vision encompasses connected and electric vehicles and ride-sharing. It has the backing of the government: South Korea's trade minister promised a new regulatory framework for the new technologies. But analysts are posing questions. Are the targets realistic ... and how can South Korea make up lags in key areas like AI, sensors and logic chips? Others are worried over the extra burden on Hyundai earnings. Though at 35 billion dollars, the new plan is still modest .... Compared to the 90 billion dollar EV spend pledged by Germany's global giant, VW.
South Korean automaker Hyundai Motor will start making its Santa Cruz pickup trucks at its U.S. factory in 2021, with an investment of $410 million, as it seeks a foothold in the popular, but highly competitive, segment led by U.S. rivals. The Alamaba factory expansion was announced as President Donald Trump is expected this week to push back a self-imposed deadline on whether to put tariffs of up to 25% on imported cars and parts. Hyundai has invested more than $1.1 billion in the Montgomery region in the last 18 months, with the latest move expected to add 200 new jobs and 1,000 people employed by regional suppliers and logistics companies.
The Alamaba factory expansion was announced as President Donald Trump is expected this week to push back a self-imposed deadline on whether to put tariffs of up to 25% on imported cars and parts. Hyundai has invested more than $1.1 billion in the Montgomery region in the last 18 months, with the latest move expected to add 200 new jobs and 1,000 people employed by regional suppliers and logistics companies. The factory, which began production in 2005, was Hyundai's first assembly and manufacturing plant in the United States and now has 2,900 full-time and 500 part-time employees.
(Bloomberg) -- Hyundai Motor Co. is entering the U.S. pickup market by building a new vehicle at an existing plant in Alabama, betting it can better appeal to American consumers ditching sedans for trucks and SUVs.The South Korean company said Wednesday it will invest $410 million at Hyundai Motor Manufacturing Alabama, its factory in Montgomery, adding 200 jobs to start making the vehicle in 2021. While Hyundai has billed the model, called Santa Cruz, a “compact utility vehicle,” it features an open truck bed.The U.S. manufacturing announcement is the second of the day by a major international automaker: Volkswagen AG broke ground Wednesday on a previously announced $800 million expansion of its production complex in Chattanooga, Tennessee. Perhaps not coincidentally, President Donald Trump gave himself a mid-November deadline to decide whether to put tariffs on impose levies on imported cars and auto parts. His administration is expected to delay a decision another six months.“Our hope is that the negotiations we’ve been having with individual companies about their capital investment plans will bear enough fruit that it may not be necessary” to put levies into effect, Commerce Secretary Wilbur Ross told Bloomberg Television earlier this month. “We’ve had very good conversations with our European friends, with our Japanese friends, with our Korean friends.”Hyundai debuted the Santa Cruz as a concept nearly five years ago and has hinted in recent months it planned to produce the vehicle in the U.S. The Alabama plant, which started producing cars in 2005, employs roughly 3,000 workers making Santa Fe SUVs and the Elantra and Sonata sedans.Adding the Santa Cruz could help make up for slack demand for the cars built in Montgomery. While sales have risen 11% for the Santa Fe this year, deliveries have dropped 16% for both the Elantra and Sonata.(Updates with trade background in the third paragraph)To contact the reporter on this story: Chester Dawson in Southfield at firstname.lastname@example.orgTo contact the editors responsible for this story: Craig Trudell at email@example.com, Kevin MillerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Automotive giants are positioning themselves for a future where the production and sale of vehicles isn’t as profitable, but that change isn’t happening anytime soon
Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. In the Mexican city of Uruapan, an avocado producer was recently shot to death in his car as he drove home.
The potential $2bn listing of Hyundai’s credit card unit looks set to slip towards 2021 as the South Korean group tries to boost its value via expansion into south-east Asia and the launch of a new artificial intelligence system. Last month, Hyundai Card, majority owned by Hyundai group companies, invited brokerages to pitch for roles in a possible IPO, spurred by a group of international investors including Singapore sovereign wealth fund GIC and Hong Kong-based Affinity Equity Partners looking to exit the company.
Flying taxis are coming to a city near you, and their biggest backers aren’t the hundreds of shiny startups that have captured the imagination of Silicon Valley
The news this week that Hyundai Motor Company is planning a hydrogen-powered tractor for global markets, including the U.S., could be the beginning of a larger presence for the company into North America. Already a player in commercial vehicles elsewhere in the world, Hyundai is looking for new markets, and it is doing so by making its bet on the future of hydrogen. When asked by FreightWaves whether the HDC-6 Neptune concept truck would be the beginning of a larger Hyundai presence with additional truck models – either hydrogen or non-hydrogen – in North America, chief executive Edward Lee was cautious in his response.
Hyundai Motor on Tuesday named its former North American chief, William Lee, to oversee its premium Genesis brand following the departure of Manfred Fitzgerald to pursue new opportunities. Lee faces the challenge of rejuvenating Genesis sales in the U.S. market and making headway in Europe and China, both tough markets to crack for luxury car sales. "The company expects Mr. Lee, in his new capacity, to lead the brand's further global expansion by leveraging his overseas business operations expertise," Hyundai said in a statement.
The South Korean carmaker will team up with Pony.ai, a self-driving start-up, and mobility service provider Via to build a fleet of at least 10 Kona electric sport-utility vehicles to provide autonomous ride-sharing services called BotRide in Irvine, California. Sequoia Capital China-backed Pony.ai, which has a partnership with Toyota, will build self-driving systems with Hyundai, while Via will develop mobile phone applications for the service, the companies said.
South Korea's Hyundai Motor pledged to boost sales of electric vehicles (EV) to over half a million by 2025 as part of a bid to focus on new technologies and catch up with rivals, but some analysts saw the target as conservative and warned of the costs. The announcement by Hyundai , the world's fifth largest car maker along with affiliate Kia Motors , underscores the accelerating strategy shift under Euisun Chung who became the motor group's executive vice chairman last year. Hyundai announced a $35 billion investment last week in mobility and other auto technologies by 2025, less than a month after unveiling a $1.6 billion deal to develop self-driving vehicle technologies with Aptiv .
Hyundai Motor Co. is expanding its fuel cell ambitions to heavy-duty trucks and trailers with a pair of concepts for next week's North American Commercial Vehicle show in Atlanta. The South Korean automaker ...
Beijing is letting Hyundai Group, the South Korean carmaker, gain full ownership of one of its mainland operations " a rare move by China to cede its stake in a joint venture with a foreign company, the South China Morning Post has learned.The action comes as Beijing, now in a bruising trade dispute with Washington, has pledged to provide fairer competition for foreign corporations in the Chinese market.Hyundai Group has several joint ventures in China, including operations in Beijing and Sichuan. Sichuan Hyundai, which makes large vehicles like buses and heavy trucks, intends to attain full ownership in its China operation, buying all shares held by its Chinese joint-venture partner."We are considering a range of options, including acquiring shares [of the Chinese joint venture]," Lee Sang-eun, a spokeswoman of Hyundai Motors in Seoul, said in response to a query.Hyundai Motor's logo at the Shanghai auto show in April. Photo: Reuters alt=Hyundai Motor's logo at the Shanghai auto show in April. Photo: Reuters"[But] nothing is concrete at the moment; the final decision will be dependent on future market situations," the spokeswoman added, without elaboration.A Hyundai senior official in Seoul, who spoke on condition of anonymity, said his company aimed to complete the acquisition by the end of this year or early next year.Hyundai formed a 50-50 joint venture in 2012 with the Sichuan Nanjun Automobile Group (SNAG). One of its production lines is in Ziyang, Sichuan province and is expected to be capable of assembling 700,000 vehicles a year by 2020.The Chinese half is owned by Sichuan Junyu Property Company; SNAG owns 80 per cent of its shares, according to China's National Enterprise Credit Information Publicity System.A legal professional in Beijing, who had consulted for the Hyundai Group in 2016, said the South Korean conglomerate was "frustrated" about its intellectual property rights in China. Legal experts had advised the South Korean carmaker to restructure its joint venture deal with its Chinese partner, this person said.Sichuan Nanjun Automobile Group did not immediately respond to requests for comment.A separate joint venture, Beijing Hyundai, which produces sedans and SUVs like the Sonata and Santa Fe, is not affected by the deal and will continue in its original ownership structure.Chinese Premier Li Keqiang, shown in Beijing on Friday meeting with members of an international consultive committee on advanced manufacturing, has been encouraging more foreign investment. Photo: Xinhua alt=Chinese Premier Li Keqiang, shown in Beijing on Friday meeting with members of an international consultive committee on advanced manufacturing, has been encouraging more foreign investment. Photo: XinhuaHyundai and SNAG's plan comes as Beijing " now in the 16th month of a bitter trade war with Washington " aims to show it can provide a fairer market for foreign companies.Other South Korean companies have left the country as they hit a wall in China. Samsung, the consumer electronics giant, last month closed its last mobile phone production line in China, in Huizhou, and the company is also considering moving some of its television manufacturing from China to Vietnam, according to a company insider.South Korean chaebol (family-owned) conglomerates, including the retailer Lotte, are also winding down their China businesses because of political risks and to avoid tariffs on exports of their China-made products to the United States.But they are also leaving because Chinese firms have become much more competitive in the domestic market that South Korean companies had found so fruitful for more than a decade " a fate which could befall Western companies eyeing China's burgeoning middle-class consumer market.Earlier this year, Beijing passed a law that would replace existing regulations for joint ventures, allegedly providing foreign investors with more flexibility and strengthening protections of their intellectual property rights. The intent, in part, was to slow the further exodus of foreign capital from the country.A Terminal High Altitude Area Defence (THAAD) interceptor is launched during a successful test. South Korea's agreement to deploy the system resulted in a breach in its relations with China. Photo: US Defence Department via Reuters alt=A Terminal High Altitude Area Defence (THAAD) interceptor is launched during a successful test. South Korea's agreement to deploy the system resulted in a breach in its relations with China. Photo: US Defence Department via ReutersIndeed, last week, Chinese Premier Li Keqiang visited the Samsung Electronics chip production plant in Xian, where he emphasised that "China welcomes hi-tech companies from all over the world, including Samsung, to continue expanding their investment in China".Benjamin Cavender, a managing director at Shanghai-based China Market Research Group, suggested that the Chinese sale of its shares to Hyundai could be a sign of Beijing's bid to maintain or draw further foreign investment as its car industry matures.He noted that Tesla, the American electric-vehicle maker, had made a similar move last year, becoming the first foreign company to build its own production plant in China."I think this step, along with the government's greenlighting of Tesla's factory outside Shanghai, are indicators of a further opening of sectors where the government feels that Chinese firms can now be competitive," Cavender said."China's auto industry is now robust enough that the government can slowly give full control of operations to foreign players."Hyundai's plan also suggests that ties are warming between China and South Korea, after a weapons system deployment had caused a breach.Watch: When South Korea deployed the US' THAAD missile systemRelations between China and South Korea"" never especially robust"" frayed and tensions escalated after Seoul agreed in 2016 to a long-standing US request to deploy the Terminal High Altitude Area Defence system (THAAD) on South Korean soil.While both Washington and Seoul said it was intended to counter threats from North Korea, Beijing regarded THAAD as a security risk, since its radar had the range to monitor China's nearby military facilities.After its deployment in 2017, THAAD triggered widespread boycotts of South Korean firms in China, with state-owned media acting as aggressive cheerleaders. In particular Lotte, which had sold Seoul land on which the system's radar and interceptor missiles were set up, was sanctioned by Beijing, and the retailer's Chinese expansion plans ground to a halt.Beijing is "perhaps eager to make amends with Seoul after their bruising 2016 battle over THAAD," said Sean King, a former US trade official who is now senior vice-president of political strategy firm Park Strategies."I think mainland China is [also] eager for external capital and expertise [in general]. And in the midst of its still-continuing trade and investment uncertainty with the United States, it's likely looking to tap as many foreign sources as possible " to diversify its options, as it were," King added.Washington and Beijing recently announced a truce in the trade war, ostensibly reaching a deal that includes intellectual property protections and Chinese purchases of US agricultural products worth as much as US$50 billion.Protesters turned out in Jilin in northeast China on March 5, 2017, to support a boycott of South Korean goods. Photo: AFP alt=Protesters turned out in Jilin in northeast China on March 5, 2017, to support a boycott of South Korean goods. Photo: AFPExperts note that it is too soon to assess the impact of Beijing's efforts to relax the restrictions for foreign companies."The question is going to be whether these measures are selective or actually represent large-scale change to policy in China," Cavender said."In the case of Hyundai, there is little risk to giving control back to Hyundai, as the operation has struggled to be profitable."Sichuan Hyundai sold slightly more than 2,000 vehicles from January to August, a steep drop from three years ago, when it sold nearly 40,000 over the full year. The Hyundai official in Seoul agreed with Cavender, saying that Sichuan Hyundai has long been "suffering from a significant loss of the market share" in China's market."[China's] intention may be on forfeiting its responsibility of a company that has long been suffering from a deficit," the official said.Cavender also noted that the Chinese government is trying to maintain a "balancing act".Beijing, he said, "needs to go a lot farther in creating a balanced operating environment, not just for foreign firms looking at China, but also for Chinese start-ups that in many cases struggle to get the funding they need or that have to compete in an environment where SOEs [state-owned enterprises] still receive a lot of benefits."However, SOEs still account for a high percentage of jobs in China, so there is a lot of pushback against heavy reform."This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2019 South China Morning Post Publishers Ltd. All rights reserved. Copyright (c) 2019. South China Morning Post Publishers Ltd. All rights reserved.
Hyundai Motor said on Tuesday it was considering raising its stake in its underperforming truck joint venture in China, potentially joining other foreign automakers in boosting ownership in the world's biggest car market. Sichuan Hyundai Motor is Hyundai's only commercial car venture in China that makes cargo trucks and buses. Beijing relaxed rules last year on foreign firms controlling any Chinese automakers or joint venture, removing caps on those making fully electric and plug-in hybrid vehicles.
Hyundai Motor Group said it plans to invest 41 trillion won ($35 billion) in mobility and other auto technologies by 2025, part of which will be directed to an ambitious effort to become more competitive in self-driving cars that has also received government backing. The plan, which Hyundai said encompasses autonomous, connected and electric cars as well as technology for ride-sharing, comes after the automaker and two of its affiliates announced an investment of $1.6 billion in a venture with U.S. self-driving tech firm Aptiv. South Korea's government is also onboard, unveiling more funding for autonomous vehicle technology with President Moon Jae-in declaring on Tuesday that he expected self-driving cars to account for half of new cars on the country's roads by 2030.
Hyundai Motor Group said it plans to invest 41 trillion won ($35 billion) in mobility and other auto technologies by 2025, part of which will be directed to an ambitious effort to become more competitive in self-driving cars that has also received government backing. The plan, which Hyundai said encompasses autonomous, connected and electric cars as well as technology for ride-sharing, comes after the automaker and two of its affiliates announced an investment of $1.6 billion in a venture with U.S. self-driving tech firm Aptiv . South Korea's government is also onboard, unveiling more funding for autonomous vehicle technology with President Moon Jae-in declaring on Tuesday that he expected self-driving cars to account for half of new cars on the country's roads by 2030.
Hyundai Motor Co and affiliate Kia Motors Corp have earmarked a total of 900 billion won ($757.86 million) to settle U.S. class action litigation and address engine-related issues in the United States and South Korea. Hyundai Motor will reflect about 600 billion won in costs related to engine problems in July to September earnings, while affiliate Kia Motors has set aside about 300 billion won, they said on Friday. A total of 4.17 million Hyundai and Kia models equipped with Theta II gasoline direct injection (GDI) engines will be affected by the U.S. settlement.
Hyundai Motor Co and affiliate Kia Motors Corp have earmarked 900 billion won ($758 million) to settle U.S. class action litigation and address engine-related issues in the United States and South Korea. The move marks the South Korean auto giant's first major effort to resolve years of trouble over engine defects that have also sparked probes by the U.S. safety regulator and prosecutors. Hyundai Motor will make a provision of about 600 billion won in its July to September earnings while Kia will book one for about 300 billion won, they said on Friday.