|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||31.35 - 31.35|
|52 Week Range||25.25 - 45.00|
|Beta (3Y Monthly)||0.39|
|PE Ratio (TTM)||8.23|
|Forward Dividend & Yield||0.85 (2.72%)|
|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.
The Alabama 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
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
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. Hyundai has announced plans to invest $35 billion (£27 billion) in mobility and other auto technologies by 2025.
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 (£27 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 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.
South Korea's Hyundai Motor Co and affiliate Kia Motors Corp on Friday said they have agreed to resolve class action litigation with U.S. owners of certain vehicles over engine fire risks. The settlement provides cash compensation options, lifetime warranties, free inspection and repair of the covered engines, as well as installation of a software update to boost safety and performance, the automakers said in a statement. Hyundai and Kia, together the world's fifth-biggest automaker by sales, recalled nearly 1.7 million vehicles in 2015 and 2017 in the United States to address engine defects.
Aiming to cash in on a major push by South Korea to promote fuel cell vehicles, Sung Won-young opened a hydrogen refuelling station in the city of Ulsan last September. Sung's new hydrogen station is one of five in Ulsan, home to Hyundai Motor Co's main plants and roughly 1,100 fuel cell cars - the most of any South Korean city. The government paid the 3 billion won (2 million pounds) cost - six times more than fast charging equipment for battery electric cars - and the two pumps, located next to Sung's gasoline stand, see a steady flow of Hyundai Nexo SUVs daily.
The competition in the self-driving technology market just heated up again. Hyundai Motor Company (HMC) has formed a joint venture with Aptiv.
SEOUL/NEW YORK (Reuters) - Hyundai Motor Group will invest $1.6 billion (1.29 billion pounds) in a joint venture to develop self-driving vehicle technologies with Aptiv , the biggest overseas investment by the South Korean carmaker to catch up to rivals in the autonomous car market. Global carmakers and their suppliers are forging alliances to develop autonomous car technologies partly due to the need to share the huge financial and technical burdens. Hyundai has lagged global rivals who have invested heavily into developing new technologies for electrified and autonomous vehicles.
Greenpeace campaigners climbed a 40-metre billboard advertisement for Hyundai Motor's near its head office in South Korea to post a sign reading "No more internal combustion engines", the environmental group said on Monday. Greenpeace spokesman Sean Lee said the group wanted to send a message to Hyundai Motor that eliminating internal combustion engines was "no longer a matter of choice".
Hyundai Motor Co's unionised workers in South Korea voted on Monday to accept the lowest bonus offered in nearly two decades amid widespread restructuring in the auto industry and a damaging trade dispute with Japan. With the approval, announced on Tuesday, Hyundai avoided a walkout by workers for the first time in eight years. Hyundai's South Korean workers, who have staged strikes in all but four years since the union was created in 1987, had drawn media and public criticism for threatening to walk out despite their relatively high annual wage of 92 million won ($75,866) on average as of 2018, plus benefits and job security.
Hyundai Motor Co and its South Korean workers' union have reached a tentative wage deal and averted strike action for the first time in eight years, sending the automaker's shares up by more than 4%. The union said it took into account "the uncertain political and economic situation" stemming from a diplomatic spat with Japan as well as a U.S.-China trade dispute. Hyundai's unionised workers in South Korea have staged strikes in all but four years since the union was created in 1987.
South Korea's Hyundai Motor Co laid out its U.S. sales turnaround plan on Monday with an expanded line-up of sport-utility vehicles (SUV), after posting its biggest quarterly profit jump in seven years. The automaker forecast its U.S. market share to begin rising again from this year, targeting a year-end share of 4.2% versus 3.9% last year, with sales of its upgraded Palisade SUV starting from the second half. It aims for a U.S. share of 5.2% by 2023.
In the pickup truck segment, Fiat Chrysler Automobiles NV's (FCA) Ram outsold General Motors Co's Chevrolet Silverado in the second quarter. The Silverado has long held second place behind Ford Motor Co's F-Series pickup trucks, with Ram often a distant third.