tl;dr
Hyundai Motor and Kia have signed a memorandum of understanding with India's Exide Energy Solutions as part of their expansion plans in India's electric vehicle industry. The South Korean automakers aim to localize their EV battery production, specifically focusing on lithium-iron-phosphate cells. T...
Hyundai Motor and Kia have signed a memorandum of understanding with India's Exide Energy Solutions as part of their expansion plans in India's electric vehicle industry. The South Korean automakers aim to localize their EV battery production, specifically focusing on lithium-iron-phosphate cells. This partnership with Exide Energy, a subsidiary of Exide Industries, will enable Hyundai Motor and Kia to apply domestically produced batteries in their upcoming EV models in the Indian market. "India is a key market for vehicle electrification due in part to the government’s carbon neutrality goals, which makes securing cost competitiveness through localized battery production crucial," said Heui Won Yang, President and Head of Hyundai Motor and Kia’s R&D Division. This move comes as Tesla intensifies its efforts to bolster its presence in the Indian market, reportedly dispatching a team to find locations for a proposed $2 billion to $3 billion electric vehicle facility in the country.
More about Tesla Inc
Tesla, Inc. is an American electric vehicle and clean energy company based in Palo Alto, California. Tesla's current products include electric cars, battery energy storage from home to grid-scale, solar panels and solar roof tiles, as well as other related products and services. In 2020, Tesla had the highest sales in the plug-in and battery electric passenger car segments, capturing 16% of the plug-in market (which includes plug-in hybrids) and 23% of the battery-electric (purely electric) market. Through its subsidiary Tesla Energy, the company develops and is a major installer of solar photovoltaic energy generation systems in the United States. Tesla Energy is also one of the largest global suppliers of battery energy storage systems, with 3 GWh of battery storage supplied in 2020.
Industry: Manufacturing - Motor Vehicles & Passenger Car Bodies
Revenue: $52,517,185,000
Profit Margin: 38.35%
Dividend: None
EPS: 4.3
P/E Ratio: 30.49
Beta: 0.155
Market Cap: $96,772,997,000
Stock Price: $190.34
Book Value per Share: $1.115
Price to Book: 0.035
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