에 대한 최신 뉴스 Hyundai Motor (OTC:HYMTF) 주식

Hyundai Motor

Hyundai Motor Co is engaged in the manufacturing and distribution of motor vehicles and parts. The business of the group is operated through a vehicle, finance, and other segments. Its vehicle segment is engaged in the manufacturing and sale of motor vehicles. The finance segment operates vehicle financing, credit card processing, and other financing activities. Others segment includes the research and development, train manufacturing and other activities. The company derives majority of the revenue from vehicle segment.

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지리 자동차 홀딩스(OTC:GELYY)는 2026년까지 최초의 프리미엄 전기차(EV)를 한국에 공개할 예정인 것으로 알려졌으며, 이는 여전히 현대자동차(OTC:HYMTF)와 기아차가 지배하고 있는 시장에 중국 자동차 제조업체들이 침투하려는 노력을 의미한다.

중국의 지리 자동차, 2026년까지 한국 프리미엄 전기차 출시 목표: 보도

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한국 자동차 제조사 현대 자동차(OTC:HYMTF)와 자매회사인 기아 자동차가 2024년 첫 5개월 동안 미국 전기차(EV) 시장에서 가장 큰 점유율을 확보한 것으로 알려졌다. 이번 일 (What Happened): 한국자동차산업협회(KAMA)의 자료에 따르면 현대·기아차는 미국 전기차 시장에서 11.2%의 점유율을 차지했다. 이는 1~5월 미국에서 판매된 전기차 43만 7,246대 중 4만 8,838대에 해당한다고 연합뉴스가 보도했다.

한국의 현대·기아차는 미국에서 높은 전기차 시장 점유율을 확보하며 성장

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전기차(EV) 주가는 주중 시장 약세와 의미 있는 촉매제 부재로 인해 5월 24일로 끝난 주에 대부분 하락했다. 전기차 업계에서 벌어진 주간 주요 이슈들: 테슬라 중국의 소문난 생산 감소와 그 외 소식들: 업계 데이터와 한 소식통을 인용해 이번 주 로이터 통신은 테슬라가 기가 상하이의 베스트셀러 모델 Y 전기차 생산량을 3월부터 두 자릿수 비율로 줄였다고 밝혔다. 이번 감산은 중국 내 수요 약세와 경쟁 심화로 인해 이뤄졌다.

주간 주요 전기차 뉴스: 테슬라 중국 모델 Y 생산 감소, 루시드, 포드, 니콜라, 현대차

HYUNDAI MOTOR REG S by Hyundai Motor Co., Ltd.

Hyundai Motor Co

Geely Automobile Holdings Ltd (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GELYY#OTC">GELYY</a>) is reportedly set to unveil its first premium electric vehicle (EV) to South Korea by 2026, marking an effort by Chinese carmakers to penetrate a market still dominated by Hyundai Motor Co. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HYMTF#OTC">HYMTF</a>) and Kia Corp.
Geely&#8217;s luxury EV brand, Zeekr Intelligent Technology Holding Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZK#NYSE">ZK</a>), which<a target="_blank" href="https://www.benzinga.com/markets/equities/24/05/38756035/chinas-zeekr-prices-us-ipo-at-top-end-of-estimated-range-whats-on-the-cards" rel="noreferrer noopener"> recently went public in the U.S.,</a> plans to open showrooms in Seoul and Gyeonggi province by the end of next year, with deliveries starting in early 2026, reported <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-07-05/geely-plans-to-introduce-zeekr-ev-brand-in-korea-by-early-2026?srnd=industries-v2&amp;sref=TBDibEcD" rel="noreferrer noopener">Bloomberg</a>.
The first model expected to hit the South Korean market is the Zeekr 001, an EV with a range of up to 620 kilometers (385 miles) per charge. However, these plans are not yet finalized, the report added.
Chinese automakers face challenges due to South Korea&#8217;s new rule favoring EVs with higher recycled metal content, disadvantaging those using LFP batteries, common in Chinese vehicles.
Nevertheless, Geely and other Chinese brands like BYD Company (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) are eyeing South Korea amid <a target="_blank" href="https://www.benzinga.com/news/24/06/39306681/fresh-eu-tariffs-could-slow-down-tesla-chinese-rivals-but-warren-buffett-backed-byd-can-profitably-e" rel="noreferrer noopener">high tariffs in Europe and the U.S.</a>
Related Read:<a target="_blank" href="https://www.benzinga.com/news/24/07/39592293/tesla-rival-byds-ev-sales-jump-21-in-q2-details" rel="noreferrer noopener"> </a><a target="_blank" href="https://www.benzinga.com/news/24/07/39592293/tesla-rival-byds-ev-sales-jump-21-in-q2-details" rel="noreferrer noopener">Tesla Rival BYD&#8217;s EV Sales Jump 21% In Q2: Details</a>
In 2022, Geely acquired a 34% stake in Renault&#8216;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/RNSDF#OTC">RNSDF</a>) Korean unit, deepening their collaboration on eco-friendly models.
Additionally, the Polestar 4, an electric SUV from Geely-controlled Volvo AB (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VOLVF#OTC">VOLVF</a>), will be produced at Renault Korea&#8217;s Busan plant starting in late 2025.
Geely has partnered with Korea&#8217;s SK Group for battery development and Posco International Inc. for the sales and servicing of its commercial vehicles in the country.
This reflects a strategic effort to establish a strong foothold in the South Korean EV market.
The report quoted Lee Hang-Koo, head of the Jeonbuk Institute of Automobile Convergence Technology, who noted significant demand for premium EVs in South Korea.
Price Action: GELYY shares closed higher by 2.67% at $22.66 on Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/24/06/39253633/volvo-car-shifts-ev-production-to-belgium-from-china-as-eu-tariff-threat-looms-report" target="_blank" rel="noreferrer noopener">Volvo Car Shifts EV Production To Belgium From China As EU Tariff Threat Looms: Report</a></li>
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China's Geely Targets South Korea For Premium EV Debut By 2026: Report

Hyundai Motor Company (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HYMTF#OTC">HYMTF</a>) and LG Energy Solution (LGES) reportedly launched Indonesia&#8217;s first battery cell production plant for electric vehicles, with an annual capacity of 10 Gigawatt hours (GWh).
Hyundai Motor and LG Energy Solution plan to invest up to $9.8 billion in Indonesia to develop an EV supply chain, tapping into the country&#8217;s rich nickel and copper resources, reported Reuters.
As per the report, the facility is linked with Hyundai&#8217;s automotive plant, slated to commence production of 50,000 units annually of the Kona Electric SUV using batteries manufactured in Indonesia.
At the factory&#8217;s opening ceremony, Hyundai Motor&#8217;s Executive Chair Euisun Chung, said, &#8220;Mineral resources of this nation, such as iron and nickel are important components in batteries that will mobilise millions of EVs globally.&#8221;&nbsp;
In 2021, the companies announced a $1.1 billion investment in a battery cell plant located in West Java province, with an annual capacity to power over 150,000 battery-based electric vehicles.
Hyundai and LGES are preparing to embark on the second phase of the battery plant project, investing $2 billion to add 20 GWh capacity.
Indonesia&#8217;s President Joko &#8220;Jokowi&#8221; Widodo said the plant would cement the country&#8217;s key position in the EV global supply chain as it establishes a domestic processing industry, per the report.
&#8220;This is the first and largest EV battery cell plant in Southeast Asia, and I am sure we will be able to win this competition with other countries because the nickel, bauxite and copper are here,&#8221; Jokowi said.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/06/39460377/hyundai-workers-threaten-strike-over-pay-and-retirement-age-report" rel="noreferrer noopener">Hyundai Workers Threaten Strike Over Pay and Retirement Age: Report</a>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo by Maryland GovPics via Flickr
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/06/39436133/hyundai-charges-ahead-to-solidify-its-ev-positioning-despite-the-slowdown" target="_blank" rel="noreferrer noopener">Hyundai Charges Ahead To Solidify Its EV Positioning Despite The Slowdown</a></li>
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Large Cap

Indonesia Powers Up: First EV Battery Plant Launched With Hyundai and LG Energy Solution

Hyundai Motor Co., Ltd.&#8216;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HYMTF#OTC">HYMTF</a>) unionized workers in South Korea reportedly voted in favor of potential strike action following stalled negotiations with the company regarding wage increases and the extension of retirement age.
The union, which counts over 43,000 members and ranks among the largest in the country, stated that nearly 90% of its members have voted in favor of striking unless Hyundai Motor agrees to comply with the union&#8217;s demands, reported Reuters.
The union is proposing a raise of 159,800 won ($115.14) in the minimum basic monthly pay and performance-based pay linked to 30% of Hyundai&#8217;s 2023 net profit.
Read: <a target="_blank" href="https://www.benzinga.com/news/24/06/39436133/hyundai-charges-ahead-to-solidify-its-ev-positioning-despite-the-slowdown" rel="noreferrer noopener">Hyundai Charges Ahead To Solidify Its EV Positioning Despite The Slowdown</a>
The automaker&#8217;s union is also advocating for an increase in the retirement age from 60 to 64, citing South Korea&#8217;s rising life expectancy and the need for adequate retirement income.
As per the report, the strike has the potential to disrupt the production of several popular vehicles domestically, which Hyundai has been exporting to compensate for slow domestic sales.
If a strike occurs, it would be the first of its kind in six years concerning wage negotiations at the South Korean carmaker.
A Hyundai Motor union official told Reuters, &#8220;We are open to have negotiations with the management if they are willing to change their stance.&#8221;&nbsp;
They further mentioned that the union intends to proceed with working-level discussions with management.
As of mid-June, the union and management have conducted a total of eight rounds of wage negotiations.
As per the report, the analysts warn that such action would likely impact Hyundai&#8217;s short-term sales, particularly in the U.S., its largest market for revenue-generating vehicles.
Related: <a target="_blank" href="https://www.benzinga.com/news/24/06/39268925/cant-catch-tesla-yet-but-south-koreas-hyundai-and-kia-gain-ground-with-record-high-ev-market-share-i" rel="noreferrer noopener">Can&#8217;t Catch Tesla Yet, But South Korea&#8217;s Hyundai And Kia Gain Ground With Record-High EV Market Share In US</a>
The report cited Chang Moonsu, an analyst at Hyundai Motor Securities, who commented, &#8220;Hyundai Motor&#8217;s union at home has always voted for strike action every year and this year is no different, however, the union might push a bit harder than previous years as the company has been doing well and the pandemic is long gone, so workers would like to push for bigger compensation this time.&#8221;
Price Action: HYMTF shares are up 3.63% at $59.12 at the last check Monday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo by Maryland GovPics via Flickr

Hyundai Workers Threaten Strike Over Pay and Retirement Age: Report

Hyundai Motor Company (OTC: <a class="ticker" href="https://www.benzinga.com/stock/hymtf#OTC">HYMTF</a>) announced the launch of&nbsp;two new electric vehicles in Europe&nbsp;in an effort to boost its market share. The two new models,&nbsp;an affordable&nbsp;EV&nbsp;called the Inster EV,and a new IONIQ model, are key segment launches. While its&nbsp;rivals, including traditional automakers like General Motors (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gm#NYSE">GM</a>) and Ford Motor (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/f#NYSE">F</a>), but also the EV king, Tesla Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) are scaling back their efforts, Hyundai is increasing its efforts to fight for&nbsp;leadership in the EV era. According to data from the Korean Automobile &amp; Mobility Association, May already brought some sales records.
<h3>Affordable EVs Are In The Air</h3>
Last week, Hyundai provided a teaser of its low-cost&nbsp;EV for the first time, with the&nbsp;official debut of the Inster EV&nbsp;scheduled for&nbsp;the Busan International Mobility&nbsp;that is scheduled to&nbsp;kick off on June 27th.&nbsp;The Inster&nbsp;is key to Hyundai&rsquo;s plan for EVs to account for&nbsp;at least&nbsp;14 percent of&nbsp;its&nbsp;total sales in Europe this year. Volkswagen Group (OTC: <a class="ticker" href="https://www.benzinga.com/stock/vwagy#OTC">VWAGY</a>) also just finished design work on its affordable all-electric ID. 2. Volkswagen is expected to launch the ID.2. by the end of the year, while Hyundai&rsquo;s Inster EV will&nbsp;make its official global debut&nbsp;before June ends and Tesla is only talking about working on a low-cost EV. With the looming debut of its entry-level EV, Volkswagen promised the ID.2. turned out even better than the concept. It&nbsp;will be&nbsp;will be one of ten new EVs that Volkswagen plans to launch by 2027.&nbsp;
<h3>Hyundai Already Made A&nbsp;Record In&nbsp;May</h3>
In May,&nbsp;IONIQ 5 set a&nbsp;new monthly sales record with&nbsp;4,449 units sold, bringing the cumulative total of the first five months of 2024 to&nbsp;nearly 15,000&nbsp;units. Kia also made its own record as it&nbsp;sold 7,766 electric SUVs through May, while it also expects to gain the&nbsp;$7,500 tax credit&nbsp;and further boost demand. Later this year,&nbsp;Hyundai is opening its first EV and battery plant in the US&nbsp;and once it&nbsp;begins&nbsp;assembling the IONIQ 5,&nbsp;it should also have a contender to&nbsp;qualify for the tax credit.Already, the IONIQ 5 and IONIQ 6, are some of the most affordable and efficient EVs on the market, with the upcoming IONIQ yet to be unveiled.
Hyundai and Kia show South Korean automakers have what it takes for the EV race.&nbsp;
Hyundai started off 2024 on a good note or more precisely, with a record start. In May, it sold more than 17,000 EVs across the globe. In the U.S., it is even challenging the EV king, Tesla. In May, Hyundai Motor Group that includes Kia, made 11.2% of the EV market in the U.S. By hitting double digits in market share, Hyundai and Kia are getting closer to close the gap with Tesla.&nbsp;While Tesla led by 52.9%&nbsp;last year, the gap fell to&nbsp;40.5% through May&nbsp;this year as Hyundai continues to grow its&nbsp;market share. Although the fall of Tesla and its market share was bound to happen at some point, figures show that Hyundai and Kia are doing something right with their EV offerings and strategies.
DISCLAIMER:&nbsp;This content is for informational purposes only. It is not intended as investing advice.
This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

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VWAGY

Hyundai Charges Ahead To Solidify Its EV Positioning Despite The Slowdown

The battle for dominance in the electric vehicle sector could include range of batteries and overall technology, something multiple companies are looking to differentiate themselves on<a href="https://www.benzinga.com/electric-vehicles"> in the sector.</a>
A rivalry between Lucid Group In. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>) and Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) could intensify with one CEO saying their technology is significantly better.
 What Happened: When it comes to electric vehicle production and deliveries, Tesla is years ahead of Lucid as the top company in the sector.
Lucid, while not as proficient in production and deliveries, has been praised by some in the sector for its technology. Lucid CEO Peter Rawlinson did not shy away from his thoughts about the company's technology.
Rawlinson, a former Tesla employee, said Lucid is "a number of years ahead" of Tesla in technology. The comments came during an interview with Rawlinson on Fox Business, as shared by <a href="https://www.teslarati.com/lucid-leads-tesla-ev-tech-ceo/amp/">Teslarati</a>.
"Well, I think that if we look back in time 10-15 years ago, Tesla was the tech leader," Rawlinson said. "I think there's a degree of distraction now, and I think that Lucid has taken that mantle. I believe we're a number of years ahead in terms of our core technology from Tesla."
The interview featured Fox anchor Liz Claman test-driving the Lucid Air and Rawlinson <a href="https://www.foxbusiness.com/video/6354959138112">highlighting </a>the upcoming Gravity SUV.
"I announced earlier this week that we've hit a landmark level of capability, and we're hitting the magic five miles per kilowatt-hour. No one else is even close. So this is a tech race; it's yet to run its course, and we are taking the mantle of leadership — make no mistake."
For EV batteries, miles per kilowatt hour is used to show how efficient the car's battery is, much like a traditional car and its miles per gallon for gas.
Related Link: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39336082/elon-musks-56b-payday-wins-in-landslide-next-chapter-in-the-tesla-growth-story">Elon Musk&#8217;s $56B Payday Wins In Landslide: &#8216;Next Chapter In The Tesla Growth Story&#8217;</a>
Why It's Important: The comments from Rawlinson come after a recent interview with BBC where he<a href="https://www.benzinga.com/news/24/05/39055347/lucid-ceo-peter-rawlinson-thinks-elon-musks-tesla-seems-distracted-and-kind-of-losing-its-way-says-i"> said Tesla was</a> "distracted."
Rawlinson and Lucid have had a building rivalry with Tesla. Rawlinson's <a href="https://www.benzinga.com/news/22/03/26096126/lucid-ceo-recalls-his-time-at-tesla-why-model-s-was-nearly-named-300-megajoule">previous role at Tesla</a> as a chief engineer and working on the Tesla Model S has often been discredited for his role at the company by Tesla CEO Elon Musk.
With Lucid facing cash concerns as its losses mount, Musk has said the company will face bankruptcy.
The technology of Lucid could be a differentiating factor against competitors and could also lead to some partnerships. Hyundai Motor Company (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HYMTF#OTC">HYMTF</a>) is considering a partnership with Lucid for its motors, <a href="https://www.benzinga.com/news/24/05/39084076/can-lucid-power-hyundais-future-a-korean-american-tie-up-is-reportedly-in-the-works">according to a recent report.</a>
Lucid entered into a partnership with Aston Martin for an electric vehicle powertrain back in June 2023.
The Lucid Air has a maximum estimated range of up to 516 miles, which could draw interest from other companies for Lucid's technology.
LCID Price Action: Lucid shares are up 2.98% to $2.60 on Monday versus a 52-week trading range of $2.29 to $8.37. Lucid stock is down 61% over the last year.
Read Next:<a href="https://www.benzinga.com/news/24/06/39135581/youtuber-mkbhd-praises-lucid-air-sapphire-if-it-couldnt-be-a-tesla-it-would-have-to-be-this"> YouTuber MKBHD Praises Lucid Air Sapphire: &#8216;If…It Couldn&#8217;t Be A Tesla, It Would Have To Be This&#8217;</a>
Photos: Courtesy Lucid, Tesla

Management

Trading Ideas

Lucid Vs. Tesla: CEO Says Company's Technology Is 'A Number Of Years Ahead' Of EV Leader

South Korean automaker Hyundai Motor (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HYMTF#OTC">HYMTF</a>) and sister company Kia Corp have reportedly secured their largest share of the <a href="https://www.benzinga.com/markets/asia/24/03/37976441/what-ev-slowdown-asian-auto-giant-plans-to-invest-50b-to-ramp-up-production-and-hire-80k-employees">U.S. electric vehicle (EV) market</a> in the first five months of 2024.
What Happened: According to data from the Korea Automobile Manufacturers Association, Hyundai and Kia collectively accounted for 11.2% of the U.S. EV market, which translates to 48,838 units out of the 437,246 EVs sold in the U.S. from January to May, <a href="https://en.yna.co.kr/view/AEN20240609000600320?section=search">Yonhap News Agency</a> reported. 
The two companies together had a market share of only 6.8% in 2023 and 10.6% in 2022.
Despite this remarkable growth, Hyundai and Kia&#8217;s combined share still falls short of the U.S. industry leader, Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), by 40.5 percentage points. However, this is a significant improvement from the 73.2 percentage point gap observed in 2020, the report noted.
Why It Matters: Hyundai offers electric, hybrid, and plug-in hybrid <a href="https://www.benzinga.com/news/24/04/38038005/hyundai-kia-gunning-for-tesla-with-low-cost-evs-but-ross-gerber-says-they-are-not-as-good">vehicles in the U.S.</a> including a low-cost Kona electric starting at $32,675 and the Elantra Hybrid that starts at $26,250.
Kia, too, offers several electric and hybrid options including the Niro Hybrid which starts at $26,940, and the EV9 which starts at $54,900. 
Both brands have electric vehicle options priced near or lower than Tesla&#8217;s cheapest offering- the Model 3 sedan. While Hyundai has the Ioniq 5 up against Tesla&#8217;s best-selling Model Y, Kia has the EV6 in the same price range. 
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More: <a href="https://www.benzinga.com/news/24/06/39264971/another-ev-maker-bites-the-dust-arrival-joins-growing-list-of-bankrupt-startups">Another EV Maker Bites The Dust: Arrival Joins Growing List Of Bankrupt Startups</a>
Photo via Shutterstock

Can't Catch Tesla Yet, But South Korea's Hyundai And Kia Gain Ground With Record-High EV Market Share In US

Experts agree that Indonesia's president-elect Prabowo Subianto will continue to build up the nation's vertically integrated <a href="https://www.benzinga.com/markets/asia/24/04/38412172/will-indonesias-new-president-continue-nickel-policy-which-undercuts-competitors">nickel industry</a>.
What is less certain is how he will balance the nation's relationship with China—currently the biggest foreign investor in the country's nickel industry—with ambitions to attract Western investors who will be more concerned about the sector's toll on the environment and local communities.
"The Indonesian government appears divided," said Ahmad Syarif, a doctoral candidate in international affairs at Johns Hopkins University and an expert in Indonesian energy and natural resources issues.
"One faction advocates for environmental reforms within the nickel industry, while the other does not feel an immediate need for such changes, primarily because Chinese companies, as the main consumers, have not raised substantial concerns," he told Benzinga.
"However, should Indonesia aim to diversify its nickel processing exports beyond China, the situation necessitating environmental standards may significantly change," he said.
Electric-Vehicle Ambitions
Indonesia holds the world&#8217;s biggest nickel reserves and undercuts foreign competitors on price in part because of subsidized coal used to generate electricity for the nickel refining process. The president-elect's predecessor, who holds the presidency until October, banned exports of raw nickel ore to promote domestic value addition in refining.
It appears that Subianto wants to continue building up the battery supply chain and eventually make his archipelago into a hub of battery and electric vehicle production. The government has announced tax incentives designed to boost domestic EV production and sales. It aims to produce 600,000 EVs and have 140 gigawatt-hours of annual battery production capacity by 2030. The nation has pitched Tesla CEO Elon Musk <a href="https://www.benzinga.com/government/23/02/30662005/indonesia-president-confident-of-winning-tesla-ev-plant-investment-courtesy-of-battery-reserves-and">about a battery plant. </a>
But those ostensibly climate-friendly ambitions come embedded with an inherent contradiction—the more batteries and EVs Indonesia produces the more climate-warming coal it burns.
Indonesian nickel is used to make stainless steel. But battery-grade nickel takes more refining, which means more power generation is needed.
The International Energy Agency expects surging demand for nickel and development of coal-fired power plants to boost Indonesia's coal consumption from 228 million tons in 2023 to 284 million tons in 2026.
"I think that as Indonesia takes a larger share of the nickel market, the country&#8217;s coal usage will likely increase proportionately, as most of the country&#8217;s nickel refining industry is run on coal-fired power generation," John Berman, CEO of natural resources investment management firm Berman Capital Group.
China in Charge
For now, China is by far the largest investor in Indonesia's nickel industry, although companies from other nations are making inroads. Hyundai Motor Group (OTF:HYMTF) has an EV factory there and has teamed up with South Korea's LG Energy Solution on a battery cell plant. General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) is involved with a joint venture there, and Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) has teamed up with PT Vale Indonesia (OTC:<a class="ticker" href="https://www.benzinga.com/stock/PTNDF#OTC">PTNDF</a>)&nbsp;and China&#8217;s Zhejiang Huayou Cobalt on a nickel processing facility.
If more Western companies who hold stricter environmental and labor standards than China end up investing in Indonesia and are able to force reforms, Indonesian nickel products could get more expensive, allowing ex-China nickel miners with higher costs of production to be more competitive. The same is true if governments put tariffs on Indonesian nickel exports, as <a href="https://www.theglobeandmail.com/business/article-wilkinson-nickel-critical-minerals-china-indonesia/#:~:text=Federal%20Natural%20Resources%20Minister%20Jonathan,on%20the%20global%20nickel%20market.">Canada</a> and other Western countries are considering.
"A carbon tax could be a possibility if there were emissions standards in place for the production process, which, in the case of nickel processing, still largely depends on coal," Syarif said.
"However, with Chinese manufacturers being the primary consumers, the tax would likely apply to the finished products coming from China," he added. "The challenge lies in how to effectively track the carbon footprint of these processed commodities since there&#8217;s currently no adequate system for this tracking."
At some point, North American and European companies should reject Indonesian nickel that is produced in a way that destroys rainforest, strips soil and is refined with coal-fired power, Greg Beischer, CEO of nickel miner Alaska Energy Metals Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/AKEMF#OTC">AKEMF</a>), told Benzinga.
Now Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39201769/bitcoin-spot-etfs-record-17-straight-inflow-days-reaching-15-3b-year-to-date">Bitcoin Spot ETFs Record 17 Straight Inflow Days, Reaching $15.3B Year-To-Date</a>
Photo: Nanang Sugi/Shutterstock.com

Asia

Government

Regulations

Emerging Markets

Commodities

Global

AKEMF

PTNDF

Why Indonesia's EV Ambitions Mean It Will Burn More Coal

<ul>
<li>Hyundai reveals first official images of &#39;Na Oh&#39;, the new restaurant in collaboration with the world&#39;s first Korean chef to earn Three Michelin Stars</li>
<li>Opening&nbsp;June 15, 2024, new restaurant &#39;Na Oh&#39; will connect food, tradition and innovation as part of the customer experience</li>
<li>Chef&nbsp;Corey Lee&nbsp;to introduce a new casual dining concept with a 4-course prix&nbsp;fixe menu</li>
</ul>

Reported Earlier, Hyundai Motors And Chef Corey Lee Team Up For 'Na Oh', A New Casual Dining Venture In Singapore

<ul>
<li>Total sales up&nbsp;12%&nbsp;in May; YTD total sales increase&nbsp;2%</li>
<li>Best May for IONIQ 5, IONIQ 6, Tucson HEV, Santa Fe HEV, Palisade and&nbsp;Santa Cruz</li>
<li>Hyundai May retail sales up&nbsp;9%&nbsp;YOY; Volume led by Palisade, IONIQ 5 and Santa Fe HEV</li>
<li>May EV sales up&nbsp;42%&nbsp;YOY</li>
</ul>

Reported Saturday, Hyundai Motor America May 2024 Sales Up12% YoY, And YTD Total Sales +2% YoY

Hyundai Motor Company (OTCPK: HYMTF) is reportedly considering a partnership with<a href="https://www.benzinga.com/news/24/05/39055347/lucid-ceo-peter-rawlinson-thinks-elon-musks-tesla-seems-distracted-and-kind-of-losing-its-way-says-i"> California-based Lucid Group</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>) for its high-performance electric motor. 
What Happened: Hyundai CEO Chang Jae-hoon visited Lucid&#8217;s headquarters in California early this year to discuss cooperation, South Korea&#8217;s Sisa Journal <a href="https://www-sisajournal--e-com.translate.goog/news/articleView.html?idxno=403106&amp;_x_tr_sl=auto&amp;_x_tr_tl=en&amp;_x_tr_hl=en&amp;_x_tr_pto=wapp">reported</a>.
The two companies are figuring out the details of the contract including motor pricing and the models they will be incorporated into, the report said, while hinting that the motor might be incorporated into an all-electric sports car by Hyundai&#8217;s luxury brand Genesis. However, Hyundai did not confirm the news.
In June 2023, Lucid entered into a similar partnership with Aston Martin to integrate and supply Lucid's electric vehicle powertrain and battery systems to the British car maker.
Why It Matters:&nbsp;Lucid&#8217;s Air sedan is currently the only one in production. The sedan has a maximum estimated range of up to 516 miles, making it among the longest-range electric vehicles around the globe. 
For the first quarter, Lucid reported a <a href="https://www.benzinga.com/news/earnings/24/05/38653616/lucid-q1-earnings-highlights-revenue-beat-eps-miss-production-update-and-more" target="_blank" rel="noreferrer noopener">net loss of $680.9 million</a> and revenue of just $172.7 million. The company accumulated a net loss of over $346,000 for every vehicle it delivered.
However, as of the end of the first quarter, Lucid had total liquidity of about $5.03 billion, which the company expects will be enough to sustain it through the start of production of the Gravity SUV and into the second quarter of 2025.
Last week, the company announced that it<a href="https://www.benzinga.com/news/24/05/39005456/lucid-stock-gains-3-premarket-after-ev-maker-announces-6-workforce-reduction-cutting-400-jobs-to-low"> laying off about 6% of its workforce</a>, or 400 employees to reduce costs.
Read More:&nbsp;<a href="https://www.benzinga.com/news/24/05/39079925/elon-musk-insists-spacex-isnt-killing-competition-with-low-pricing-hopes-rivals-focus-on-rocket-reus">Elon Musk Insists SpaceX Isn&#8217;t Killing Competition With Low Pricing, Hopes Rivals Focus On Rocket Reusability: &#8216;Others Are Free To Copy Us&#8217;</a>

Rumors

Can Lucid Power Hyundai's Future? A Korean-American Tie-Up Is Reportedly In The Works

While legacy automakers General Motors (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gm#NYSE">GM</a>) and Ford Motor (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/f#NYSE">F</a>) continue to scale down and reassess their EV ambitions, Hyundai Motor Company (OTC: <a class="ticker" href="https://www.benzinga.com/stock/hymtf#OTC">HYMTF</a>) is growing its EV portfolio. After setting a strong foundation with its current EV success in the U.S. with IONIQ 5, IONIQ 6 and Kona Electric, Hyundai&nbsp;will be introducing a three-row electric SUV, the IONIQ 9.
While even the EV king, Tesla Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) kicked off 2024 by struggling with the slowdown, Hyundai has been enjoying increased interest in its EV offerings. During the first quarter, Hyundai reported that its EV sales surged as much as&nbsp;62% due to record performances of the IONIQ 5 and Kona Electric.&nbsp;
<h3>The IONIQ 9 Promises To Cement Hyundais&rsquo; EV Positioning</h3>
The Hyundai IONIQ 9 will be Hyundai&rsquo;s first three-row electric SUV. Therefore, it will compete with three row electric SUVs from Rivian Automotive Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rivn#NASDAQ">RIVN</a>), namely the Rivian R1S, as well as Kia Ev9 and Volvo EX90. With the pitch of the IONIQ 9, Hyundai aims to cement its status as a leading provider of affordable and efficient EVs. Moreover, its vehicles will also be enhanced by the world&rsquo;s first solar-tonneau cover thanks to its signed agreement with&nbsp;Worksport Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wksp#NASDAQ">WKSP</a>). Hyundai was the first to express interest in Worksport&rsquo;s revolutionary power duo, the SOLIS solar tonneau cover and the COR portable battery system, whose alpha versions are expected to hit the market this summer.
<h3>Worksport Has Been Issued A&nbsp;New U.S. Patent For Its Innovative Solar Truck Cover</h3>
Worksport enlarged its already impressive intellectual property portfolio as the United States Patent &amp; Trademark Office&nbsp;issued new utility patent for its&nbsp;SOLIS solar-powered tonneau cover.&nbsp;Worksport is bringing the world&rsquo;s first solar-powered tonneau truck that promise to disrupt the market which sells about 7 million truck bed covers per year. Earlier this year, Worksport SOLIS cover will be made compatible with the top three selling vehicles in the U.S., namely Ford F-Series, Chevrolet Silverado, and Ram pickup trucks, along with other major brands. Hyundai signed an agreement back in 2022 to ensure it gains access to both SOLIS and COR to empower its pickups. This innovative product, as part of the power duo together with COR portable battery system, will enable Worksport to target both combustion engine pickups, along with OEM integration for upcoming electric pickup trucks, extending their range.
Along with Ford and GM, even Tesla took a step back. Tesla and Rivian kicked off the year with layoffs. But part of the problem even for Tesla was the lack of new products, with its Model 3 and Model Y being old news, despite the revamping of the Model 3, and the eye-catching Cybertruck not being a mainstream product. Hyundai certainly does not have that problem as it showed its determination to stick to its EV rollout and growth plans.
DISCLAIMER:&nbsp;This content is for informational purposes only. It is not intended as investing advice.
This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

Penny Stocks

WKSP

Hyundai Continues To Expand Its EV Lineup

Electric vehicle stocks mostly fell in the week that ended on May 24, as the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/39014019/nvidia-tech-stocks-propel-nasdaq-100-to-record-high-solar-sector-shines-meme-stock-">midweek market weakness</a> and a lack of any meaningful catalyst weighed down on them.
Here are the key events that happened in the EV space during the week:
Tesla China&#8217;s Rumored Production Cut And More: Tesla has cut Giga Shanghai&#8217;s output of the company&#8217;s bestselling Model Y EV by a double-digit percentage since March, a Reuters report said this week, citing industry data and a source. The production cut has come amid the ongoing demand weakness and intensifying competition in China.
The EV giant is going all out to get shareholders to agree on CEO Elon Musk&#8217;s 2018 compensation plan. The company released a new letter this week, with Chair Robyn Denholm as the letter&#8217;s signatory. 
&#8220;Elon hit every &#8216;jaw-dropping&#8217; target in the innovative and ambitious 2018 Award, leading to staggering growth,&#8221; Tesla said in the letter. &#8220;We have seen what the leadership of an incentivized Elon can do to drive innovation and create value. Protect that same value creation for the future.&#8221;
The company also criticized the annulment of the 2018 pay plan.
&#8220;And in America, a deal should be a deal. Despite having a signed contract in place, Elon has not been compensated for any of his work for Tesla over the past six years, even though he led Tesla to significant growth and stockholder value,&#8221; it said.
In a post on X, Musk underlined the futility of valuing Tesla merely as an automaker. He agreed with the view of one Tesla influencer, who said valuing Tesla as simply an auto company is like valuing Nvidia as a gaming GPU company. For context, gaming GPUs contributed only $2.65 billion to Nvidia&#8217;s revenue in the first quarter, while the company&#8217;s data center business brought in $22.56 billion.
This week, Nvidia CEO Jensen Huang also acknowledged that Tesla has the most advanced self-driving technology.
Lucid Trims Workforce By 6%: Struggling premium EV maker Lucid Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NYSE">LCID</a>) announced a structuring plan aimed at optimizing operating expenses, <a href="https://www.benzinga.com/news/24/05/39005456/lucid-stock-gains-3-premarket-after-ev-maker-announces-6-workforce-reduction-cutting-400-jobs-to-low">including the elimination of 400 employees or 6% of its workforce</a>. The cuts mainly affect leadership and mid-level management. The company plans to complete this by the end of the third quarter, anticipating one-time charges of $21 million to $25 million, with $19 million to $23 million likely recognized in the second quarter.
See Also: <a href="https://www.benzinga.com/money/best-electric-vehicle-stocks">Best Electric Vehicle Stocks</a>
Nikola Announces Truck Orders: Battery and fuel-cell energy truck maker Nikola Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NKLA#NASDAQ">NKLA</a>) announced this week new orders from AiLO Logistics, with deliveries scheduled for 2025. AiLO Logistics, a drayage carrier operating in the ports of Los Angeles and Long Beach, placed orders for 100 Nikola fuel-cell EV trucks with Tom&#8217;s Truck Centers, a member of the Nikola sales and service dealer network.
Ford To Ease EV Sales Norms For Dealers? Legacy automaker Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>), struggling with its EV transition, is reportedly easing the strict norms previously set for dealers selling its EVs, Automotive News <a href="https://www.autonews.com/dealers/ford-dealer-meetings-prompt-changes-ev-certification-program">reported.</a> The company has asked dealers to pause its EV certification program, promising to communicate changes next month.
Blue Oval will reportedly meet with its dealer council in early June to further tweak the program based on feedback from a series of&nbsp;nationwide retail gatherings&nbsp;organized this month. 
&#8220;We don&#8217;t want them to make any decisions between now and the middle of June, when you can maybe have a more informed decision-making process based off what we work out with council in the next few weeks,&#8221; Andrew Frick, president of Ford Blue, told Automotive News.
Hyundai To Steepen EV Investments: South Korean automaker Hyundai Motor Co.&#8216;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HYMTF#OTC">HYMTF</a>) American CEO Randy Parker <a href="https://www.theverge.com/24163520/hyundai-randy-parker-interview-ev-sales-ioniq-sales">told </a>Verge in an interview that the company plans to go out all on EVs despite the current inclement conditions in the industry. The company&#8217;s investment plans include a $7.6 billion manufacturing facility in Georgia.
&#8220;We're trying to make driving an EV affordable &#8230; but at the same time removing some of those objections when it comes to range and charging,&#8221; Parker said.
The KraneShares Electric Vehicles and Future Mobility Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KARS#NYSE">KARS</a>) ended Friday&#8217;s session down 0.15% at $21.26, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data.</a> For the week, the ETF fell 4.88%.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/05/38998020/elon-musk-agrees-tesla-not-merely-automaker-like-valuing-nvidia-based-on-gaming-gpu-segment">Elon Musk Agrees Tesla Not Merely Automaker: &#8216;Like Valuing Nvidia Based On..Gaming GPU Segment&#8217;</a>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td></td>
<td>Performances (+/-)</td>
</tr>
<tr>
<td>Tesla</td>
<td>+1.00%</td>
</tr>
<tr>
<td>Nio, Inc.(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>)</td>
<td>-8.52%</td>
</tr>
<tr>
<td>XPeng, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>)</td>
<td>-1.21%</td>
</tr>
<tr>
<td>Li Auto, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>)</td>
<td>-18.40%</td>
</tr>
<tr>
<td>Fisker, Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FSRN#OTC">FSRN</a>)</td>
<td>-5.27%</td>
</tr>
<tr>
<td>Workhorse Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WKHS#NASDAQ">WKHS</a>)</td>
<td>-10.38%</td>
</tr>
<tr>
<td>Hyzon Motors, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HYZN#NASDAQ">HYZN</a>)</td>
<td>-7.54%</td>
</tr>
<tr>
<td>Canoo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOEV#NASDAQ">GOEV</a>)</td>
<td>-11.51%</td>
</tr>
<tr>
<td>Rivian Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>)</td>
<td>-0.57%</td>
</tr>
<tr>
<td>Lucid Group</td>
<td>+2.11%</td>
</tr>
<tr>
<td>Faraday Future Intelligent Electric, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIE#NASDAQ">FFIE</a>)</td>
<td>+12.62%</td>
</tr>
<tr>
<td>Nikola </td>
<td>-1.51%</td>
</tr>
<tr>
<td>VinFast Auto Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VFS#NASDAQ">VFS</a>)</td>
<td>+0.41%</td>
</tr>
</tbody>
</table>
</figure>
Photo: Shutterstock

Tesla China's Steep Model Y Output Cut, Lucid Wields The Ax, Ford Rumored To Ease Dealer Requirements For EV Sales And More: Biggest EV Stories Of The Week

On Thursday, Kia Corporation launched its first compact electric sports utility vehicle. Built on its dedicated EV platform,&nbsp;the EV3&nbsp;promises to&nbsp;win over buyers&nbsp;with&nbsp;competitive pricing as Kia shows its determination to shrug off the&nbsp;global EV slowdown.&nbsp;Back in April, Kia stated its goal it is&nbsp;to sell about 1.6 million EV units by the end of this decade.
<h3>Kia&rsquo;s Elevated Electric SUV Experience To Set New Standards</h3>
The EV3 is Kia&rsquo;s attempt to break the barriers to EV adoption by making an affordable vehicle, with the long-range model having a&nbsp;driving range of about 600 kilometres or&nbsp;373 miles&nbsp;on a single charge.&nbsp;The EV3 will be available in South Korea from July, with a European launch expected late this year and a U.S. launch sometime after 2025, with the delay being the result of&nbsp;assessing the U.S. EV tax credit policy.
The EV3&nbsp;is one of more than 31 electric models that Hyundai Motor Group,&nbsp;therefore&nbsp;Hyundai Motor Company (OTC: <a class="ticker" href="https://www.benzinga.com/stock/hymtf#OTC">HYMTF</a>), Kia Corp and premium brand Genesis,&nbsp;plans to introduce&nbsp;by the end of this decade.
<h3>Kia And Hyundai Defied The EV Slowdown</h3>
Interestingly, amid cooling EV sales, Kia and Hyundai Motor North America experienced an increased interest for their EV offerings. Moreover, Kia had its best ever month for EV sales in April, due to its new&nbsp;E9 SUV.&nbsp;With&nbsp;3,623&nbsp;EVssold,&nbsp;Kia recorded a&nbsp;61% increase&nbsp;compared to its prior&nbsp;record&nbsp;from&nbsp;April 2022.&nbsp;Hyundai reported&nbsp;EV sales&nbsp;growth of26%&nbsp;in April, fueled by Ioniq 5 crossover SUV and Ioniq 6 mid-size car&nbsp;whose sales grew 59% and 41%, respectively. Hyundai also recorded a strong rise in its hybrid offerings as the Tucson posted a 44% sales rise. Hyundai has been exploring innovative solutions for its EV transformation for quite a while. Back in 2022, Hyundai America Technical Center entered into an agreement with&nbsp;Worksport Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wksp#NASDAQ">WKSP</a>)&nbsp;to produce a working model of a solar-powered tonneau cover and customized version of a mobile battery generator system for an upcoming Hyundai vehicle. Worksport is expected to launch the alpha release of its off-grid power duo, first-to-market-solar-powered tonneau cover SOLIS this summer, followed by its innovative portable battery system COR.
Worksport is set to revolutionize the clean energy solutions for light trucks.
Worksport,&nbsp;known for its innovative&nbsp;clean energy solutions&nbsp;intellectual property portfolio just provided its&nbsp;2024 revenue&nbsp;guidance, forecasting&nbsp;revenue growth from $1.5 million in year-end 2023, while expecting&nbsp;between $6 million and $8 million for 2024, translating to&nbsp;revenue growth&nbsp;in the range between&nbsp;300%&nbsp;and&nbsp;433%.&nbsp;However, this projection is based solely on&nbsp;Worksport&rsquo;s Automotive Accessory Business,&nbsp;with the launch of SOLIS and COR bringing further revenue potential.
After the alpha release of its power duo, Worksport anticipates&nbsp;the market launch of another tonneau cover in&nbsp;the fourth quarter with demand expected to surpass that of all of its existing offerings. Earlier this year, Worksport announced that&nbsp;SOLIS solar cover will be available for&nbsp;the dimensions of Hyundai Motor Company,&nbsp;Ford&nbsp;Motor (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/f#NYSE">F</a>),&nbsp;General Motors (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gm#NYSE">GM</a>) and&nbsp;Stellantis&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/stla#NYSE">STLA</a>) light pickup trucks, promising to ease range anxiety in electric pickups and revolutionize the landscape. Therefore, Worksport is expected to provide future updates to its financial guidance as soon as its revolutionary products hit the market.
DISCLAIMER:&nbsp;This content is for informational purposes only. It is not intended as investing advice.
This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

STLA

Kia, Hyundai And Worksport Defy The EV Slowdown Trend

<ul>
<li>Hyundai Motor joins its third straight Advanced Clean Transportation (ACT) Expo to share its hydrogen vision,&nbsp;HTWO, and introduce its U.S. hydrogen commercial vehicle business</li>
<li>At its press conference, Hyundai Motor shares its&nbsp;U.S. hydrogen commercial vehicle project milestones aimed at advancing hydrogen society</li>
<li>Hyundai Motor and&nbsp;GLOVIS America announce HTWO Logistics, a new clean logistics partnership focusing on zero-emission transportation in&nbsp;Georgia</li>
<li>The company previews a cabin enhancement concept and the addition of ADAS features for the Class 8&nbsp;XCIENT Fuel Cell electric truck</li>
<li>Hyundai Motor and Plus collaborate to test Level 4 autonomous driving technology on&nbsp;XCIENT Fuel Cell truck</li>
<li>Fuel cell technology, digital exhibits of&nbsp;HTWO Grid and XCIENT Fuel Cell truck product enhancement concept on display at ACT Expo booth #530</li>
</ul>

Reported Earlier, Hyundai Motor Unveils Vision For Hydrogen Society And U.S. Clean Logistics At ACT Expo 2024

During the first three months of 2024,&nbsp;Hyundai Motor Group&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/hymtf#OTC">HYMTF</a>) surpassed Volkswagen Group (OTC: <a class="ticker" href="https://www.benzinga.com/stock/vwagy#OTC">VWAGY</a>) in terms of operating profit, taking its second place, with&nbsp;Toyota Group&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tm#NYSE">TM</a>)&nbsp;remaining on&nbsp;the global auto industry&nbsp;throne.
<h3>Hyundai Surpassed Volkswagen, While Toyota Fefended Its Throne</h3>
For the first quarter, the South Korean automaker reported&nbsp;operating profit of $5.09 billion, slightly above&nbsp;$4.94 billion&nbsp;that&nbsp;the German automaker&nbsp;reported, led by&nbsp;$7.15&nbsp;&nbsp;reported by the Japanese automaker.&nbsp;
With&nbsp;Hyundai Motor, Kia, and Genesis brands, Hyundai Motor Group has a diverse portfolio that includes internal combustion engines,&nbsp;EVs, as well as&nbsp;hydrogen-powered cars, and that is its&nbsp;core strength. Like Tesla Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>), Hyundai Motor has also been hit by the EV slowdown, but its EV sales have significantly grown over the years. Moreover, it continues to invest in its technical capabilities. For example, it showed interest in intellectual property of Worksport Ltd (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wksp#NASDAQ">WKSP</a>). This summer, Worksport is due to launch the world&rsquo;s first solar-powered tonneau cover, SOLIS. Back in 2022, Hyundai entered into a formal agreement with Worksport to get a prototype of SOLIS for its Santa Cruz pickup, as well as a modified version of COR, a portable battery system. With this power duo, Worksport promises off-grid power on the go.
Meanwhile, Volkswagen, once the world&rsquo;s biggest automaker, didn&rsquo;t do much in five years since it mapped out its EV roadmap in 2019, when it seems like it had every chance to dethrone even the mighty Tesla. Volkswagen can only dream of challenging Tesla as its transformation hasn&rsquo;t happened yet. To make matters worse, it got dethroned in China by the so-called Tesla killer, BYD (OTC: <a class="ticker" href="https://www.benzinga.com/stock/byddy#OTC">BYDDY</a>) and also got new rivals in the world&rsquo;s biggest EV market. In attempt to avoid losing the EV race, Volkswagen partnered with a local EV maker in China, Xpeng, in February. Besides developing two vehicles that will help Volkswagen expand its portfolio in China as well as attract entry and mid-level customers, XPeng and Volskwagen will also work on software and on lowering the EV cost structure. But, even XPeng is going after Europe, and it is making its entry through Germany, Volkswagen&#39;s home.
Can Volkswagen bounce back at some point is another story, but right now, it finds itself in a highly competitive pickle.
DISCLAIMER:&nbsp;This content is for informational purposes only. It is not intended as investing advice.
This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

Volkswagen Gets Surpassed Even By Hyundai

Brett Garrard, a Mercedes worker, emphasized the need for better work-life balance and a more predictable schedule as part of the ongoing unionization efforts at a Mercedes plant in Alabama.
What Happened: Garrard&#8217;s statement, made on Last Call CNBC, comes amid a vote by over 5,000 workers at the Mercedes-Benz plant in Alabama on whether to join the United Auto Workers (UAW) union. The vote began on Monday, May 13, 2024, in the face of a strong anti-union campaign.
&#8220;The things that we are reaching for in this campaign are more work-home life balance [and] a more stable and standard schedule so that we can participate in family activities,&#8221; Gerrard said.
However, he also revealed that not everyone in the Alabama plant is ready for unionization. The biggest fear is the management would shift the plant out of Alabama to Mexico if the unionization campaign continues. Workers are also concerned that others plants would be preferred over Alabama when new car designs arrive. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&quot;The things that we are reaching for in this campaign are more work-home life balance [and] a more stable and standard schedule so that we can participate in family activities,&quot; says Mercedes worker Brett Garrard on unionization efforts at a Mercedes plant in Alabama. <a href="https://t.co/ane9O8PEeI">pic.twitter.com/ane9O8PEeI</a>
&mdash; Last Call (@LastCallCNBC) <a href="https://twitter.com/LastCallCNBC/status/1790165906376593821?ref_src=twsrc%5Etfw">May 13, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/equities/24/05/38805961/elon-musks-tesla-faces-fsd-uptake-challenge-as-only-2-of-free-trial-users-subscribe-gary-black-t?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk&#8217;s Tesla Faces FSD Uptake Challenge As Only 2% Of Free Trial Users Subscribe, Gary Black Terms T</a>
Why It Matters: The unionization efforts at the Mercedes plant are part of a larger campaign by the UAW. Following a significant victory at a <a href="https://www.benzinga.com/news/24/04/38363664/after-uaw-wins-big-in-tennessee-40m-campaign-continues-35-car-plants-are-next">Volkswagen plant in Tennessee</a>, UAW President Shawn Fain announced plans to organize more nonunion automaker factories. 
The UAW&#8217;s<a href="https://www.benzinga.com/news/24/04/38363664/after-uaw-wins-big-in-tennessee-40m-campaign-continues-35-car-plants-are-next"> $40-million campaign aims </a>to unionize autoworkers in at least 35 non-union U.S. plants currently under the banner of major manufacturers such as Mercedes-Benz Group, Tesla Inc, BMW, Toyota Motor Corp, Nissan Motor Co Ltd and Hyundai Motor Company.
Read Next: <a href="https://www.benzinga.com/markets/asia/24/05/38786554/nio-ceo-william-li-breaks-8-year-brand-loyalty-streak-as-he-takes-delivery-from-rival-chinese-ev-sta?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nio CEO William Li Breaks 8-Year Brand Loyalty Streak As He Takes Delivery From Rival Chinese EV Startup</a>
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Mercedes Worker Advocates For Better Work-Life Balance Amid Unionization Efforts in Alabama Plant: '...So That We Can Participate In Family Activities'

Lex Fridman, an accomplished AI researcher, MIT scientist and influential podcast host, is known to be well-informed regarding the most cutting-edge technological innovations.
Given he's interviewed a wide range of experts at the top of their fields, including Elon Musk, Jeff Bezos and Mr. Beast, it can be hard to impress him.
However, Boston Dynamics' Atlas Robot did just that, with Mr. Fridman posting on X "Congrats to Boston Dynamics on their new electric version of Atlas robot. Thanks to all the amazing engineering teams at Boston Dynamics, Tesla and others pushing the field of robotics forward!"
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The Atlas robot is described by Boston Dynamics as "the world's most dynamic humanoid robot… designed for real-world applications." A 39-second video the company published on YouTube showcasing its mobility drew significant attention, getting over 4.7 million views in just 7 days.&nbsp;
Investors interested in investing in the Atlas robot cannot do so directly as Boston Dynamics is not a public company. However, its parent company, Hyundai Motor Company (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HYMTF#OTC">HYMTF</a>), is.
Trending: Invest like a millionaire. Exclusive opportunity to<a href="https://www.benzinga.com/money/epic-games"> invest in Epic Games $17 billion gaming empire.</a>
The South Korean multinational car manufacturer has had a fantastic rise in its share price recently, with its stock up ~52% in the past year.
Meanwhile, investors in Tesla have not been so fortunate as of late, with its stock close to flat in the past year even after giving optimistic guidance in its most recent earnings.
While the company's revenue fell 9% in the first quarter, in part because of price cuts in an attempt to stimulate demand, Elon Musk provided an update that the company's Optimus robots could be ready for sale as soon as the end of 2025.
If so, it'd be welcome news for Tesla. While it remains to be seen if Tesla can execute, Musk has made Optimus a major focus of Tesla's future growth plans, even sharing his belief in 2022 that "Optimus ultimately will be worth more than the car business and worth more than full self-driving."&nbsp;
Hyundai's technological advancements provide reason to believe they're ready to compete in the emerging and exciting humanoid robotics space.
With labor costs soaring from inflation, companies looking to boost their bottom line by being more labor efficient will surely be rooting for the further success of Atlas and Optimus.
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Lex Fridman Wowed By Boston Dynamics' New Robotic Innovation, Compares Its Atlas Robot to Tesla's Optimus and Can't Wait to 'Hang Out'

<ul>
<li>Hyundai Motor Group to establish&nbsp;mid- to&nbsp;long-term strategies to solidify its position as a leading mobility provider in&nbsp;India</li>
</ul>
&hellip;&nbsp;&nbsp; Hyundai Motor India to establish an annual production system of one million units by 2025; Combined with Kia India, Hyundai Motor Group to be able to annually produce 1.5 million units annually in&nbsp;India
&hellip;&nbsp;&nbsp; Electrification strategy to strengthen leadership in the Indian EV market by expanding EV local production and lineups as well as creating EV ecosystems
<ul>
<li>Executive Chair Chung also had a town hall meeting to share visions and strengthen trust with Hyundai Motor India employees</li>
</ul>
&hellip;&nbsp;&nbsp; Approximately 400 local employees attended the site, while over 3,000 joined through a video connection across all Hyundai Motor sites in&nbsp;India
&hellip;&nbsp;&nbsp; Executive Chair highlighted the Group&#39;s customer-centric philosophy, strategic importance of&nbsp;India&nbsp;as well as electrification strategies and future directions
<ul>
<li>Hyundai Motor Group to continue seek future growth strategies in&nbsp;India, which has emerged as the world&#39;s fifth largest economy and top three automobile markets</li>
</ul>

Hyundai Motor Group's Executive Chair Euisun Chung Visits India To Reinforce Long-Term Mobility Strategies

United Auto Workers (UAW) President Shawn Fain is gearing up to organize more nonunion automaker factories on the heels of a major victory at a Volkswagen (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VWAGY#OTC">VWAGY</a>) <a href="https://www.benzinga.com/topic/mobility">plant in Tennessee</a>.
What Happened: Fain <a href="https://www.theguardian.com/us-news/2024/apr/22/united-auto-workers-auw-shawn-fain">told</a> multiple media outlets on Monday and over the weekend that the UAW&#8217;s $40-million campaign to get more union votes will proceed.
The goal is to unionize autoworkers in at least 35 non-union U.S. plants currently under the banner of major manufacturers such as Mercedes-Benz Group (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MBGYY#OTC">MBGYY</a>), Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), BMW (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BMWYY#OTC">BMWYY</a>), Toyota Motor Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>), Nissan Motor Co Ltd (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NSANY#OTC">NSANY</a>) and Hyundai Motor Company (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HYMTF#OTC">HYMTF</a>). 
The UAW won an election victory Friday at a Volkswagen plant in Chattanooga, Tennessee. Seventy-three percent of the vote favored unionizing. Previous elections in 2014 and 2019 were unsuccessful. 
According to the <a href="https://apnews.com/article/uaw-union-election-vw-chattanooga-tennessee-alabama-74ac19f72cd334050df96ffdccf7425f">Associated Press</a>, Fain said pundits bet against the UAW in the South where roughly 150,000 workers&nbsp;are at non-union factories. 
"But you all said, ‘Watch this,' " he told a group of Volkswagen organizers on Friday night. "You guys are leading the way. We're going to carry this fight on to Mercedes and everywhere else." 
See Also: <a href="https://www.benzinga.com/markets/equities/24/04/38238276/elon-musk-is-epitome-of-everything-thats-wrong-with-this-world-says-uaw-chief-shawn-fain-while-d">Elon Musk Is &#8216;Epitome Of Everything That&#8217;s Wrong With This World,&#8217; Says UAW Chief Shawn Fain</a>
Why It Matters: The Chattanooga victory is the union's first win in a Southern car facility owned by a foreign auto manufacturer. 
Volkswagen is based in Wolfsburg, Germany. 
Previous losses at the Volkswagen facility&nbsp;were blamed on a federal investigation into bribery and embezzlement under previous leaders.
But unions credit new leadership for their favorable contracts that came about on the heels of 2023&#8217;s strike <a href="https://www.benzinga.com/topic/uaw-strike">among Detroit automakers</a>.
The successful union vote in Tennessee also underscores a changing tone across the South during an election year. President Joe Biden <a href="https://www.benzinga.com/news/24/01/36859917/biden-heads-to-michigan-to-strengthen-auto-union-ties-teamsters-to-meet-with-trump-for-roundtable-di">joined a UAW picket line</a> in Michigan, and expressed support for the Volkswagen <a href="https://www.benzinga.com/news/24/03/37811190/joe-biden-bernie-sanders-voice-support-for-volkswagen-workers-looking-to-join-uaw-american-workers-t">workers who voted on Friday</a>.
"Together, these union wins have helped raise wages and demonstrate once again that the middle-class built America and that unions are still building and expanding the middle class for all workers," Biden said, according to a White House statement.
What&#8217;s Next: A five-day election is scheduled to start May 13. Two Mercedes-Benz plants in Tuscaloosa, Alabama <a href="https://www.benzinga.com/news/24/04/38113676/mercedes-alabama-workers-gear-up-for-uaw-union-election-report">will vote next</a>.
The UAW also accused Mercedes of violating global supply chain law, which the Stuttgart, Germany-based company denied, <a href="https://uaw-newsroom.prgloo.com/press-release/uaw-files-charges-in-germany-against-mercedes-benz-companys-anti-union-campaign-against-u-s-autoworkers-violates-new-german-law-on-global-supply-chain-practices" target="_blank" rel="noreferrer noopener">stating its recognition of employees' rights to organize</a>.
Now Read: <a href="https://www.benzinga.com/24/04/38359538/autostreets-in-the-drivers-seat-as-china-gets-set-for-used-car-trading-boom">Autostreets In The Driver&#8217;s Seat As China Gets Set For Used Car Trading Boom</a>
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MBGYY

After UAW Wins Big In Tennessee, $40M Campaign Continues: 35 Car Plants Are Next

Here&#8217;s what happened in the world of consumer tech in the last week:
Alphabet Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google employees were reportedly arrested and placed on administrative leave after they staged 10-hour sit-ins at offices in New York and Sunnyvale, California, to protest the $1.2 billion <a href="https://www.benzinga.com/markets/equities/24/04/38299326/several-google-employees-arrested-in-protest-over-1-2b-israel-contract-report" target="_blank" rel="noreferrer noopener">cloud contract with Israel</a>.
Related: <a href="https://www.benzinga.com/news/24/04/38286752/elon-musk-reacts-as-marc-andreessen-says-google-is-literally-run-by-employee-mobs-with-chinese-spies" target="_blank" rel="noreferrer noopener">Elon Musk Reacts As Marc Andreessen Says Google Is &#8216;Literally Run By Employee Mobs&#8217; With &#8216;Chinese Spies&#8217; Scooping Up AI Chip Designs</a>
SpaceX founder Elon Musk accepted a challenge from the Russian space agency chief, Yuri Borisov, who said Roscosmos&#8217;s Amur rocket can be reused up to five times <a href="https://www.benzinga.com/news/24/04/38288858/elon-musk-says-bring-it-on-after-russian-space-chief-touts-amur-rocket-says-it-can-be-reused-up-to-5" target="_blank" rel="noreferrer noopener">more than the Falcon 9</a>.
A Texas judge stopped the investigation of the media watchdog group Media Matters by Texas Attorney General Ken Paxton, dealing a second blow to<a href="https://www.benzinga.com/news/24/04/38243800/another-setback-for-elon-musk-after-ccdh-lawsuit-thrown-out-media-matters-wins-injunction-against-te" target="_blank" rel="noreferrer noopener"> Elon Musk in recent weeks</a>.
Related: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38307505/tesla-stock-fell-over-9-after-past-4-earnings-reports-fund-manager-offers-advice-on" target="_blank" rel="noreferrer noopener">Tesla Stock Fell Over 9% After Past 4 Earnings Reports: Fund Manager Offers Advice On How Elon Musk Can Break Woeful Streak</a>
Gaming
Sony Group Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SONY#NYSE">SONY</a>) is gearing up for the release of a more powerful version of its&nbsp;PlayStation 5 (PS5)&nbsp;console, possibly by the&nbsp;<a target="_blank" href="https://www.benzinga.com/general/gaming/24/04/38255686/sonys-ps5-pro-release-reports-say-developers-are-getting-ready-for-new-console" rel="noreferrer noopener">end of this year</a>.&nbsp;
The official Star Wars Twitter account just dropped a teaser trailer for an upcoming crossover event with Epic Games&#8217; Fortnite, set to kick off on May 3, one day before Star Wars Day. HYPEX suggested lightsabers, force powers, and a Chewbacca skin, fueling fan<a href="https://www.benzinga.com/general/gaming/24/04/38257897/star-wars-day-arrives-to-fortnite-with-epic-crossover" target="_blank" rel="noreferrer noopener"> excitement for the collaboration</a>.
Related:&nbsp;<a target="_blank" href="https://www.benzinga.com/general/gaming/24/04/38246949/bafta-games-awards-2024-guess-which-video-game-took-5-prizes-home" rel="noreferrer noopener">BAFTA Games Awards 2024: Guess Which Video Game Took 5 Prizes Home</a>
Nintendo Co&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/NTDOY#OTC">NTDOY</a>) showcased adorable indie games like Little Kitty, Big City, Lorelei, and the Laser Eyes, offering diverse&nbsp;<a target="_blank" href="https://www.benzinga.com/general/gaming/24/04/38302723/unveiling-nintendos-april-2024-indie-world-showcase-whats-in-store" rel="noreferrer noopener">experiences for players</a>.
Electronic Arts Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EA#NASDAQ">EA</a>) unveiled plans for an open-world &#8220;Black Panther&#8221; game developed by Cliffhanger Games <a href="https://finance.yahoo.com/quote/EA?.tsrc=fin-srch" target="_blank" rel="noreferrer noopener">through a recent job listing</a>.
Former Microsoft Blizzard President Mike Ybarra has an interesting idea: He suggested adding a tipping feature to video games. Not everyone will like the idea, but the former Blizzard president believes it&#8217;s different from other situations <a href="https://www.benzinga.com/general/entertainment/24/04/38259444/ready-to-tip-your-favorite-game-developers-former-blizzard-president-says-you-should" target="_blank" rel="noreferrer noopener">when tipping feels forced</a>.
Smartphones
Apple Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) reportedly experienced a significant decline in&nbsp;iPhone&nbsp;shipments, while its&nbsp;Android&nbsp;competitors saw a rise. Notably, Apple&#8217;s iPhone shipments fell by nearly 10% in the first quarter, while the global smartphone market saw a 7.8% increase in shipments,&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38241349/apples-iphone-shipments-dip-10-while-overall-market-grows-7-8-samsung-reclaims-top-spot" rel="noreferrer noopener">reaching 289.4 million units</a>.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38240620/potential-iphone-killer-humane-ai-pins-design-interface-inherently-flawed-says-gurman-can-merely-be" rel="noreferrer noopener">Potential iPhone Killer? Humane AI Pin&#8217;s Design, Interface &#8216;Inherently Flawed,&#8217; Says Gurman: &#8216;Can Merely Be An Extra Accessory&#8217;</a>
Apple&nbsp;CEO Cook revealed potential plans to explore manufacturing opportunities in Indonesia. This announcement follows his meeting with&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38290331/tim-cook-eyes-apple-manufacturing-expansion-in-indonesia-after-talks-with-president-theres-a-lot-of" rel="noreferrer noopener">Indonesian President&nbsp;Joko Widodo</a>.
Chinese tech giant&nbsp;Huawei Technologies Co.&nbsp;has launched its latest series of smartphones, the Pura 70, to further challenge&nbsp;Apple&nbsp;in the high-end segment of the Chinese&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/04/38308198/apples-falling-iphone-sales-have-another-challenge-to-deal-with-as-huawei-launches-new-phones" rel="noreferrer noopener">market amid falling iPhone sales</a>.
Meta
Meta Platforms Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) revealed that its new large language model,&nbsp;Llama 3, has surpassed other AI models in benchmark tests. However,&nbsp;OpenAI&#8217;s&nbsp;latest flagship model,&nbsp;GPT-4, is notably&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38330339/mark-zuckerbergs-meta-says-llama-3-beats-googles-gemini-mistral-and-jeff-bezos-backed-anthropics-cla" rel="noreferrer noopener">missing from its comparison</a>. It will integrate real-time search&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/04/38330972/metas-ai-assistant-now-integrates-real-time-google-search-bing-results-expert-calls-it-the-smart" rel="noreferrer noopener">results from Google and Bing</a>.
Anduril Industries&nbsp;and&nbsp;Oculus VR founder Palmer Luckey&nbsp;accused Meta&nbsp;&nbsp;CTO&nbsp;Andrew Bosworth&nbsp;of lying and spreading&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38246351/meta-cto-gets-called-out-by-founder-of-company-building-electronic-border-wall-you-arent-credible" rel="noreferrer noopener">false information about him</a>.
Social Media
Elon Musk&nbsp;has donated to and promoted secure messaging app&nbsp;Signal&nbsp;to take on&nbsp;WhatsApp, but another rival is closing the gap with the&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38311930/elon-musk-backed-signal-to-take-on-mark-zuckerbergs-whatsapp-but-another-rival-says-its-spreading-li" rel="noreferrer noopener">Meta Platforms Inc.-owned&nbsp;service</a>.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38311301/telegram-founder-tells-tucker-carlson-that-billion-user-platform-operates-lean-hr-free-with-only-30" rel="noreferrer noopener">Telegram Founder Tells Tucker Carlson That Billion-User Platform Operates Lean, HR-Free With Only 30 Staff: &#8216;I Am The Only Product Manager&#8217;</a>
Apple&nbsp;has removed WhatsApp and Threads from its China App Store in response&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38328967/apple-bows-to-chinas-security-concerns-pulls-2-meta-products-from-app-store" rel="noreferrer noopener">to a Chinese government order</a>.
Music
Apple Music&#8216;s&nbsp;teams have collaborated with&nbsp;Taylor Swift&nbsp;to prepare her upcoming album and promotional campaign well&nbsp;<a target="_blank" href="https://www.benzinga.com/general/entertainment/24/04/38242128/apple-teams-engaged-deeply-with-taylor-swift-on-the-tortured-poets-department-album-weve-re" rel="noreferrer noopener">before the release date</a>.
Spotify Technologies SA&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) has been investing in artificial intelligence and machine learning for over a decade, and its latest AI DJ feature is a significant step towards personalizing the music streaming experience for&nbsp;<a target="_blank" href="https://www.benzinga.com/general/entertainment/24/04/38242691/can-spotifys-ai-dj-push-you-out-of-your-musical-comfort-zone-experts-say-recommender-system" rel="noreferrer noopener">600 million subscribers</a>.
The release of Amazon&#8217;s Prime Video &#8220;Fallout&#8221; TV series has sparked a significant resurgence in player numbers across Microsoft&#8217;s Bethesda&#8217;s Fallout video game franchise, <a href="https://www.benzinga.com/general/entertainment/24/04/38260627/prime-videos-fallout-series-sparks-record-game-revival-fallout-76-hits-all-time-high" target="_blank" rel="noreferrer noopener">even for titles released years ago</a>.
Tech
Amazon.com, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) Twitch is set to launch its new TikTok-style discovery feed after a year of testing, bringing separate feeds for clips and livestreams to all users&nbsp;<a target="_blank" href="https://www.benzinga.com/general/gaming/24/04/38323296/twitchs-tiktok-style-feed-clips-livestreams-seamless-browsing" rel="noreferrer noopener">by the end of this month</a>.
Popular tech YouTuber MKBHD, or Marques Brownlee, kicked off a storm on social media after his Humane AI Pin review. He called it the &#8220;worst product&#8221; he has ever reviewed, weeks <a href="https://www.benzinga.com/news/24/04/38291724/do-bad-reviews-kill-companies-mkbhd-reacts-after-humane-ai-pin-video-sparks-concern-on-social-media" target="_blank" rel="noreferrer noopener">after his Fisker Ocean SUV review</a>.
Artificial Intelligence
Mistral AI CEO Arthur Mensch threw shade at rival OpenAI CEO Sam Altman, saying that the pursuit of artificial general intelligence (AGI) is <a href="https://www.benzinga.com/news/24/04/38266018/mistral-ceo-shades-openais-sam-altman-says-obsession-with-reaching-agi-is-about-creating-god" target="_blank" rel="noreferrer noopener">just an attempt at &#8220;creating God.</a>&#8220;
Elon Musk&nbsp;expressed concern over the potential dangers of AI being trained to lie for political correctness and suggested that it could be &#8220;very dangerous&#8221;&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38265325/elon-musk-warns-ais-potential-to-lie-for-political-correctness-poses-threat-to-humanity-would-be-ver" rel="noreferrer noopener">and &#8220;kill millions&#8221; in the process</a>.
Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38310022/former-openai-researcher-who-predicted-theres-a-50-chance-ai-could-kill-us-all-is-now-heading-us-ai" rel="noreferrer noopener">Former OpenAI Researcher Who Predicted There&#8217;s A 50% Chance AI Could Kill Us All Is Now Heading US AI Safety Institute</a>
JPMorgan &amp; Chase Co.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) CEO&nbsp;Jamie Dimon&nbsp;has outlined his vision for the future of money in an AI-driven world, emphasizing the potential of artificial intelligence (AI)&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38308489/jamie-dimon-likens-ai-to-the-printing-press-says-it-will-be-a-huge-aid-to-recognize-patterns-of-succ" rel="noreferrer noopener">to revolutionize the financial sector</a>.
Microsoft Corp.&#8217;s&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)&nbsp;significant $13 billion investment in&nbsp;OpenAI&nbsp;will not undergo a formal investigation by the European Union&#8217;s merger watchdogs, alleviating concerns&nbsp;<a target="_blank" href="https://www.benzinga.com/government/24/04/38299939/eu-clears-microsofts-13b-openai-investment-from-formal-probe-a-relief-for-tech-giants" rel="noreferrer noopener">about potential regulatory interventions</a>.&nbsp;
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Let's Spill The Tea: Top Consumer Tech News From Last Week That You Should Know (April 13-20, 2024)

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It&rsquo;s time to revisit some of the top EV charging stocks to buy on the dip. All of this is happening as electric vehicle sales start to accelerate again.



Ford Motor (NYSE:<a href="https://investorplace.com/stock-quotes/f-stock-quote/">F</a>) just said its <a href="https://www.theglobeandmail.com/investing/markets/stocks/F/pressreleases/26955777/someone-forgot-to-tell-ford-ev-sales-were-slowing/" target="_blank">electric vehicle sales were up 64.7% in May</a>. It also said its EV sales were up nearly 88% higher than year-ago numbers for the first five months of the year. Even&nbsp;General Motors (NYSE:<a href="https://investorplace.com/stock-quotes/gm-stock-quote/">GM</a>) just said <a href="https://insideevs.com/news/722280/gm-ev-sales-record-may/" target="_blank">May was its best month for EV sales ever</a>. Hyundai said its U.S. EV sales were up 42% in May year over year. Kia America sales were up 5.1% year over year, too.



Those numbers may have even been higher if it wasn&rsquo;t for the shortage of EV charging stations.



Remember, of the 500,000 EV charging stations that should have been installed, <a href="https://malaysia.news.yahoo.com/us-government-builds-seven-electric-205504514.html#:~:text=Two%20years%20ago%2C%20the%20US,500%2C000%20EV%20chargers%20by%202030." target="_blank">seven are up and running</a>. If the current administration wants 50% of all vehicles to be electric by 2030, those other 499,993 charging stations need to be set up already. Until that happens,&nbsp;<a href="https://www.cnbc.com/2023/04/11/nearly-half-of-americans-say-its-unlikely-theyll-buy-an-ev-next-poll.html" target="_blank">80% of Americans</a> say they won&rsquo;t buy an electric vehicle.



With the demand for charging stations clearly growing and improving EV sales, let&rsquo;s revisit some of the top EV charging stocks to buy on the dip.



<h2>EVgo (EVGO)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/04/evgo-clii-stock-300x169.jpg" alt="EVgo fast charging station"><div>Source: Sundry Photography / Shutterstock.com</div></div>Just a <a target="_blank" href="https://investorplace.com/2024/06/3-ev-charging-stocks-to-buy-now-june-2024/">couple of days ago</a>, I said EVgo (NASDAQ:<a target="_blank" href="https://investorplace.com/stock-quotes/evgo-stock-quote/">EVGO</a>) has substantial upside potential.



For one, earnings have been solid.&nbsp;Its earnings per share loss of nine cents beat by five cents. Revenue of $55.2 million, up 118.2% year-over-year, beat by $1.85 million. Plus, it expects to achieve&nbsp;<a href="https://seekingalpha.com/news/4101078-evgo-rises-after-earnings-topper-guiding-for-2025-ebitda-breakeven" target="_blank">adjusted EBITDA breakeven results by 2025</a>.



Two, I noted that&nbsp;<a target="_blank" href="https://www.investing.com/news/company-news/evgo-ceo-badar-khan-buys-250k-in-company-stock-93CH-3440711">Chief Executive Officer Badar Khan</a> just bought 125,000 shares at an average price of $2.05 for about $251,250. Plus, I noted that analysts at Benchmark just upgraded the stock to a buy rating, believing it could achieve positive EBITDA by 2025.



While the stock has been stuck in a significant downtrend for the last two years, buy it, hold it, and forget about it. In a year or so, check back in on it, with hopes that the U.S. gets its act together and installs all of the much-needed EV charging stations.



<h2>Beam Global (BEEM)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/10/electric-vehicle-charging-ev-1600-300x169.jpg" alt="Photo of charging port on electric vehicle (EV) plugged into and being charged. EV Charging Stocks"><div>Source: shutterstock.com/Nixx Photography</div></div>Over the last few weeks, Beam Global (NASDAQ:<a target="_blank" href="https://investorplace.com/stock-quotes/beem-stock-quote/">BEEM</a>) dropped on earnings.



While its earnings per share loss of <a href="https://seekingalpha.com/news/4108654-beam-global-gaap-eps-of--021-beats-by-004-revenue-of-146m-misses-by-471m?source=content_type%3Areact%7Csection%3Asummary%7Csection_asset%3Aall_news%7Cfirst_level_url%3Asymbol%7Cbutton%3ATitle%7Clock_status%3ANo%7Cline%3A2" target="_blank">21 cents beat by four cents</a>, revenue of $14.6 million missed by $4.71 million. While not great, I&rsquo;d still use recent weakness as a buying opportunity. For one, while the $14.6 million in revenue missed analyst expectations, it was still up 12% year-over-year for the company.



Second, Beam Global saw a <a target="_blank" href="https://seekingalpha.com/pr/19731976-beam-global-announces-record-first-quarter-2024-operating-results?hasComeFromMpArticle=false&amp;source=content_type%253Areact%257Csection%253Amain_content%257Cbutton%253Abody_link%257Cfirst_level_url%253Anews">310% increase in EV charging new orders</a> in the first quarter. It received a $7.4 million order from the U.S. Army for 88 off-grid EV ARC systems, a $4.8 million order from the U.S. Department of Homeland Security, a $1.7 million order from the North Carolina Department of Adult Correction for sustainable EV charging infrastructure products and $1.2 million in orders from leading European market telecommunications provider.



In addition, as noted by <a target="_blank" href="https://seekingalpha.com/pr/19731976-beam-global-announces-record-first-quarter-2024-operating-results?hasComeFromMpArticle=false&amp;source=content_type%253Areact%257Csection%253Amain_content%257Cbutton%253Abody_link%257Cfirst_level_url%253Anews">Chief Executive Officer Desmond Wheatley</a>: &ldquo;Our sales pipeline is robust and we are working on the most significant opportunities in our history, particularly through Beam Europe. As we noted during the quarter, winning the UK&rsquo;s equivalent of our federal GSA contract was a significant milestone for Beam Europe, resulting in our first million-dollar EV ARC contract in&nbsp;Europe&nbsp;from the British Army.&rdquo;



Again, I&rsquo;d use weakness in BEEM as a buying opportunity.



<h2>Blink Charging (BLNK)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/04/blnk-stock-300x169.jpg" alt="a blink charging station, BLNK stock"><div>Source: David Tonelson/Shutterstock.com</div></div>The weakness of Blink Charging (NASDAQ:<a href="https://investorplace.com/stock-quotes/blnk-stock-quote/">BLNK</a>) is also a buying opportunity.



After failing at about $3.60, Blink dropped to $2.60, which appears to have found strong support. From $2.60, I&rsquo;d like to see BLNK initially retest its prior high.



Helping, the company says it&rsquo;s a step closer to being an EV charging solutions provider to the U.S. government. It now has an&nbsp;&ldquo;<a target="_blank" href="https://blinkcharging.com/news?utm_source=Referral&amp;utm_medium=SemaConnect">in process</a>&rdquo; designation from the Federal Risk and Authorization Management Program for EV charging solutions. If Blink becomes the government&rsquo;s official EV charging provider, other U.S. agencies can contract Blink for EV charging.



Even better, Blink was also just chosen to provide EV charging and services for Grupo Fame, a BYD (OTCMKTS:<a target="_blank" href="https://investorplace.com/stock-quotes/byddy-stock-quote/">BYDDY</a>) dealership, one of the biggest in Mexico.



Again, I&rsquo;d use recent weakness as a buying opportunity with Blink Charging. It&rsquo;s another one to just buy, hold, and forget about at the moment.



On Penny Stocks and Low-Volume Stocks:&#8239;With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That&rsquo;s because these &ldquo;penny stocks&rdquo; are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that&#8239;InvestorPlace.com&rsquo;s writers disclose this fact and warn readers of the risks.



Read More:&#8239;Penny Stocks &mdash;&nbsp;<a href="https://investorplace.com/2014/05/fraud-penny-stocks-scams/" target="_blank">How to Profit Without Getting Scammed</a>



On the date of publication, Ian Cooper&nbsp;did not have (either directly or indirectly) any positions in the securities mentioned.&nbsp;The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
<div>Ian Cooper, a contributor to InvestorPlace.com, has been analyzing stocks and options for web-based advisories since 1999.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/06/3-ev-charging-stocks-to-buy-on-the-dip-june-2024/">3 EV Charging Stocks to Buy on the Dip: June 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

3 EV Charging Stocks to Buy on the Dip: June 2024

U.S. light vehicle sales to reach 1.40 million units in June - report

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With EV sales regaining momentum, look at the top <a href="https://investorplace.com/industries/consumer-discretionary/automotive/electric-vehicles/">EV stocks</a> to buy on the dip.



Remember, as I said yesterday, &ldquo;Ford Motor&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/f-stock-quote/">F</a>) said its&nbsp;electric vehicle sales were <a href="https://www.theglobeandmail.com/investing/markets/stocks/F/pressreleases/26955777/someone-forgot-to-tell-ford-ev-sales-were-slowing/" target="_blank">up 64.7% in May</a>. It also said its EV sales were up nearly 88% higher than year-ago numbers for the first five months of the year. Even&nbsp;General Motors&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/gm-stock-quote/">GM</a>) said&nbsp;<a href="https://insideevs.com/news/722280/gm-ev-sales-record-may/" target="_blank">May was its best month</a> for EV sales ever.&nbsp;Hyundai&nbsp;(OTCMKTS:<a href="https://investorplace.com/stock-quotes/hymtf-stock-quote/">HYMTF</a>) said its U.S. EV sales were up 42% in May year over year.&rdquo;



Should EV sales continue to improve, RMI.org predicts that by 2030, about a third of all cars sold globally will be electric. According to the <a href="https://www.forbes.com/sites/energyinnovation/2024/05/19/the-vibes-lie-electric-vehicles-accelerate-toward-50-of-global-sales/">International Energy Agency (IEA)</a>, that number could rocket to about 50% by 2035.



All of which makes some of the top EV stocks to buy on the dip even more attractive.



<h2>Albemarle (ALB)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/05/alb1600a-300x169.jpg" alt="Albemarle (ALB) logo on a mobile phone screen"><div>Source: IgorGolovniov/Shutterstock.com</div></div>By now, you&rsquo;re well aware that lithium is needed to make an electric vehicle. You also know that lithium prices have fallen significantly due to supply-demand issues, which have destroyed related stocks like Albemarle (NYSE:<a href="https://investorplace.com/stock-quotes/alb-stock-quote/">ALB</a>).&nbsp;



However, it&rsquo;s safe to say the lithium pullback has become overkill. Not only are lithium prices starting to bottom out, but lithium is likely to see further heavy demand, combined with growing demand for electric vehicles &mdash; all of which is bullish for ALB.



Better, ALB is ridiculously oversold at $92.77. It&rsquo;s over-extended on RSI, MACD and Williams&rsquo; %R, with a yield of 1.66% to boot. Its latest dividend of $0.40 is payable on July 1 to shareholders of record as of June 14. In addition, analysts currently rate ALB as a moderate buy with an average price target of $146.13.



In short, I&rsquo;d use ALB&rsquo;s excessive weakness as a buying opportunity. At just $92.77 a share, it&rsquo;s ridiculously cheap.



<h2>Tesla (TSLA)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/04/tsla1600-12-300x169.png" alt="Tesla (TSLA) sign on the building on car sales"><div>Source: Vitaliy Karimov / Shutterstock.com</div></div>When I last mentioned Tesla (NASDAQ:<a href="https://investorplace.com/stock-quotes/tsla-stock-quote/">TSLA</a>), <a href="https://investorplace.com/2024/06/3-cathie-wood-stocks-to-buy-now-june-2024/">I said</a>, &ldquo;It&rsquo;s&nbsp;time to buy the fear. Granted, sales have slipped, but it&rsquo;s still dominating the market. With EV sales regaining momentum, I&rsquo;d like to see Tesla initially retest $205 from that last traded price.&rdquo;



That was on June 17, when Tesla traded at about $173. Today, it&rsquo;s up to $187.35 and is still a buy. From here, I&rsquo;d like to see it rally back to at least $205 in the near term. Helping, <a href="https://investorplace.com/2024/06/3-cathie-wood-stocks-to-buy-now-june-2024/">as I also noted</a>, &ldquo;Wedbush analysts&nbsp;say the $56 billion Elon Musk compensation removes a $20 to $25 overhang on the TSLA stock.&rdquo;



In addition, Tesla has a major leg up on its competition. As <a href="https://www.businessinsider.com/tesla-can-make-cars-cheaper-than-competitors-2024-6">noted by Business Insider</a>, Tesla is building EVs cheaper than anyone else. Tesla&rsquo;s input cost per vehicle is less than $30,000 per vehicle, which is about $10,000 less than the industry average. This is also why Tesla dominates the market with high profit margins. We&rsquo;ll also get a good idea of recent Tesla numbers when the company posts delivery numbers around July 1.



<h2>Nio (NIO)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/03/nio1600-8-300x169.png" alt="A mobile with NIO at horizontal composition."><div>Source: Freer / Shutterstock.com</div></div>Nio&rsquo;s (NYSE:<a href="https://investorplace.com/stock-quotes/nio-stock-quote/">NIO</a>) weakness is also an opportunity.



After running from about $3.61 to a high of $6, it pulled back to $4.37, again oversold. With delivery numbers improving, I&rsquo;d like to see it rally back to $6.



Granted, recent earnings weren&rsquo;t so hot.



Revenue fell about 7.2% year over year to $1.37 billion, missing estimates by $70 million. First quarter deliveries were 30,053, down 3.2% year over year. While vehicle margins were up 9.2% from 5.1% year over year, they were down from the 11.9% posted in the fourth quarter. Fortunately, the negativity appears to be baked into the NIO stock.



Helping, <a href="https://markets.businessinsider.com/news/stocks/nio-stock-alert-jpmorgan-pulls-its-sell-rating-on-nio-shares-1033385598">JPMorgan recently upgraded</a> the stock from underweight to neutral. The firm believes NIO benefits from its move into batteries and the Chinese government&rsquo;s efforts to reignite EV demand. NIO sales are also accelerating, with April deliveries up&nbsp;134.6% year-over-year.&nbsp;Year to date, Nio delivered 45,673 vehicles, a 21.2% jump year over year.



On the date of publication, Ian Cooper did not hold (either directly or indirectly) any positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
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The post <a href="https://investorplace.com/2024/06/3-ev-stocks-to-buy-on-the-dip-june-2024/">3 EV Stocks to Buy on the Dip: June 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

3 EV Stocks to Buy on the Dip: June 2024

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
It is difficult to find a more challenging market than the flying cars market. Not only do rigorous technical challenges have to be solved for electrical vertical take-off and landing (eVTOL) vehicles to be viable, but the regulatory framework has to be in sync to facilitate growth, making it essential to identify the right <a href="https://investorplace.com/industries/consumer-discretionary/automotive/flying-cars/">flying car stocks</a> to buy.



So far, China is way ahead of this game in both arenas. After the milestone of approving AutoFlight&rsquo;s autonomous CarryAll for over-one-ton flights, EHang&rsquo;s (NASDAQ:<a href="https://investorplace.com/stock-quotes/eh-stock-quote/">EH</a>) EH216-S <a href="https://www.ehang.com/news/1058.html" target="_blank">received approval</a> for mass production as autonomous flying taxis. 



According to Market Research Future, this <a href="https://finance.yahoo.com/news/flying-cars-market-projected-reach-101200874.html">market</a> could exhibit 43.70% CAGR between 2022 and 2030. But which are the best flying car stocks to buy? These companies have shown steady progress in meeting regulatory requirements while deploying scalable flying car tech.



<h2>Lilium (LILM)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/09/lilm-stock-1-300x169.jpg" alt="The website for Lilium (LILM) is displayed on a smartphone screen."><div>Source: T. Schneider / Shutterstock.com</div></div>Lilium (NASDAQ:<a href="https://investorplace.com/stock-quotes/lilm-stock-quote/">LILM</a>) is an exposure to German engineering as the company fills the demand for Regional Air Mobility (RAM) in the European Union. As of June, Lilium has an order backlog of 780 aircraft. The company&rsquo;s flagship product is Lilium Jet, featuring fixed wings with electric engine flaps capable of delivering 640 kg maximum weight at 300 km range.



In the densely populated E.U., these specs have already attracted the partnership of French A&eacute;roports de la C&ocirc;te d&rsquo;Azur and UrbanV, as the vertiport network developer across the E.U. but mainly in Italy and France at present time. To secure funding, Lilium recently raised $114 million, with a potential for guarantee-backed loans from French and German governments.



Given that the E.U. suffers from notorious regulatory parasitism and there are no comparable (publicly traded) urban air mobility (UAM) companies at this point in time, it is likely that Lilium will become the most prominent player. Moreover, seeing the regulatory-friendly regime in China, Lilium had already <a href="https://lilium.com/newsroom-detail/lilium-launches-china-legal-entity-as-part-of-collaboration-with-the-baoan-district-of-shenzhen" target="_blank">launched a legal entity</a> in Shenzhen to establish a regional presence as the first European eVTOL company.



Year-to-date, LILM stock is down 32%. At its highest 52-week point, LILM shares were priced at $1.90, significantly over the current price of $0.80 per share. This price level is lower than the 52-week average of $1.00, suggesting a bottom range from which to pick this flying stock exposure.



<h2>Joby Aviation (JOBY)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/11/joby1600-2-300x169.png" alt="Smartphone with logo of American eVTOL company Joby Aviation on screen in front of business website. Focus on center-left of phone display. Unmodified photo."><div>Source: T. Schneider / Shutterstock.com</div></div>After becoming the first eVTOL company to complete the FAA&rsquo;s three levels of certification, Joby Aviation (NYSE:<a href="https://investorplace.com/stock-quotes/joby-stock-quote/">JOBY</a>) landed exclusive rights to operate air taxis in Dubai for six years. From February to April, this expanded to a multilateral agreement with three Abu Dhabi government departments to establish an air taxi ecosystem in the UAE.



The reason these wealthy fintech hubs picked Joby is because of its wide collaboration within the U.S. aerospace sector and government agencies. Case in point, with the U.S. Air Force, the company is to deliver up to nine eVTOLs through the <a href="https://afresearchlab.com/wp-content/uploads/2022/03/AFWERX_Agility-Prime_FS_0222.pdf" target="_blank">AFWERX Agility Prime program.</a> 



Taking over Uber&rsquo;s (NYSE:<a href="https://investorplace.com/stock-quotes/uber-stock-quote/">UBER</a>) Elevate air taxi division with a $75 million Uber investment in late 2020, Joby further boosted its human capital to deliver on the UAM promise. The company sees 2024 as the completion of certification and manufacturing, while the commercial stage will be reserved for 2025. 



To catch up with China, Joby acquired Xwing in June to bolster its autonomous aviation chops. In the same month, the company received FAA&rsquo;s authorization for its ElevateOS software suite to operate on-demand air taxis, having been tested since the acquisition of Uber Elevate in 2021. 



In other words, Joby Aviation is covering all of the angles, making it one of the most serious flying car stocks to buy. Year-to-date, JOBY stock is down 23%. At the <a href="https://thetradinganalyst.com/what-is-a-stock-price-target/#:~:text=Currently%20priced%20at%20%244.84" target="_blank">present price of $5.10,</a> JOBY shares are closely aligned with the 52-week low of $4.50, well under the 52-week average price of $6.22 per share. 



<h2>Hyundai Motor Group (HYMTF)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/02/hyundai-hymtf-stock-sign-1600-300x169.jpg" alt="Hyundai (HYMTF) sign for car dealership with blue sky in background, symbolizing HYMTF stock"><div>Source: shutterstock.com/AntonovVitalii</div></div>For investors looking for flying car stocks to buy, but Boeing (NYSE:<a href="https://investorplace.com/stock-quotes/ba-stock-quote/">BA</a>) is too shady, Hyundai Motor Group (OTCMKTS:<a href="https://investorplace.com/stock-quotes/hymtf-stock-quote/">HYMTF</a>) comes as a safe bet. As one of the leading legacy automakers, Hyundai has been on a roll with its EV IONIQ series alongside the TUCSON hybrid.



In 2023, the Korean giant sold 4.2 million units, with a heavy presence in North America and Europe. In fact, the company surpassed Volkswagen Group&rsquo;s (OTCMKTS:<a href="https://investorplace.com/stock-quotes/vlkaf-stock-quote/">VLKAF</a>) operating profit for the first time in Q1 2024, at $5.09 billion vs. $4.94 billion, respectively.



With a proven track record of innovation and scaling, Hyundai&rsquo;s Advanced Air Mobility (AAM) company Supernal unveiled the <a href="https://www.hyundai.com/worldwide/en/newsroom/detail/supernal-debuts-evtol-product-concept-at-ces-2024-0000000395" target="_blank">S-A2 concept at CES 2024.</a> The eVTOL is an upgrade from S1-A1 shown in 2020, capable of carrying four passengers plus the pilot. 



While its commercial deployment is targeted for 2028, Hyundai shareholders don&rsquo;t have to worry about funding holes and cash bleeds, as is the case with most flying car companies. Year-to-date, HYMTF stock is up 55%, greatly outperforming the broader market. 



On the date of publication, Shane Neagle did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://protect-us.mimecast.com/s/XtC3C1wq33iErOvYSGOsXg?domain=investorplace.com/">Publishing Guidelines.</a>
<div>Shane Neagle is fascinated by the ways in which technology is poised to disrupt investing. He specializes in fundamental analysis and growth investing.</div><h3>More From InvestorPlace</h3>
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Hyundai Motor Sponsored GDR (GB:HYUD) has released an update. Hyundai Motor Company has reported a year-over-year decrease in sales for June 2024, ...

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