Hana Geumtu “Hyundai Motor, EV momentum starts from the end of March…Need to buy lows”

Input 2021.02.24 09:00

Hana Financial Investment on the 24th Hyundai Motor (005380)For (005380), starting with the launch of Ioniq 5, E-GMP momentum for EV (electric vehicle) platform is expected to begin at the end of next month. We maintained our rating on’Buy’ and our target price of KRW 305,000.

Song Seon-jae, a researcher at Hana Financial Investment, said in the report, “After the stock price surged due to the Apple Car issue, the recent share price has been sluggish due to the cost of recalling Kona EV. “The strengthening of fundamentals is ongoing,” he analyzed.

The previous day, Hyundai Motor Company unveiled the Ioniq 5 online, a model that first applied E-GMP, an electric vehicle platform. The market predicts that the key variable that will determine Hyundai Motor’s future years is E-GMP, a platform exclusively for electric vehicles. Hyundai Motor Company has set a goal of launching 23 electric vehicles by 2025 using E-GMP and selling more than 1 million units per year.

Researcher Song said, “It is an opportunity to be evaluated for HW (hardware) manufacturing capabilities from a number of IT companies aiming to enter the autonomous electric vehicle market, and as a partner in the future mobility foundry You can also measure the attractiveness,” he said, “it is necessary to buy Hyundai at the bottom.”

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