South Korea’s largest automaker Hyundai Motor is having fun with a uncommon inventory rally amid excessive expectations for its EV lineup beginning subsequent yr.
Hyundai Motor shares gained 40 p.c in August to shut at 176,500 gained ($149.22). Its shares rose 1.98 p.c to finish Tuesday at 180,000 gained in Seoul buying and selling.
The inventory has been rising since its efficiency in COVID-19 atmosphere fared higher than its world friends. Its EV share is anticipated to realize sharply because it rolls out full lineup on much-hyped proprietary engine platform dubbed electric-global modular platform (E-GMP) subsequent yr.
“With new releases, Hyundai Motor’s EV gross sales is anticipated to double to 220,000 models in 2021 from 110,000 models in 2020,” stated Lee Jae-il, an analyst at Eugene Funding & Securities. “Gross sales of hydrogen automobiles are also estimated to leap 66 p.c on yr to 20,000 models in 2021.”
Hyundai Motor final yr reported 2.three p.c in its dividend payout ratio, including extra funding attraction. It has paid out a yearly money dividend of 4,000 gained per share to its stakeholders since 2015.
In line with information compiled by Seoul-based monetary information supplier FnGuide, Hyundai Motor is forecast to ship an working revenue of three.77 trillion gained this yr, up 4.7 p.c from a yr earlier.
By Kim Gyu-sik and Lee Ha-yeon
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