[Featured Stock] Kia Motors Surpasses '100,000 Won' on Apple Car Expectations... Hyundai Motors Up 4%

[Asia Economy Reporter Minji Lee] Kia Motors and Hyundai Motor Company stocks are showing an upward trend. This follows news that Apple will collaborate with Hyundai Motor Company for the launch of its first Apple Car.

At 9:30 AM on the 3rd, Kia Motors was trading at 101,000 KRW, up 13.36% from the previous trading day. On this day, Kia Motors surpassed 101,000 KRW during trading hours, setting an intraday record high. Additionally, Hyundai Motor Company (3.95%), Hyundai Mobis (7.03%), and Hyundai Wia (7.42%) also showed gains.

On the 2nd (local time), according to major overseas media, TF Securities analyst Ming-Chi Kuo forecasted in an investor report that Apple will collaborate with Hyundai Motor Company for the production of the first Apple Car model. He predicted that the first Apple Car will be based on Hyundai’s self-developed electric vehicle platform, E-GMP.

He mentioned that the Apple Car launch is expected as early as 2025, with Hyundai Mobis responsible for the design and production of Apple Car parts, and Kia Motors, a Hyundai Motor Group affiliate, providing the production line in the United States.

Meanwhile, Kia Motors and Hyundai Motor Company are expected to continue strong sales in the domestic market during the first half of the year. Kim Minseon, a researcher at Kiwoom Securities, said, “Hyundai Motor Company will show relative strength in the domestic market with the full-scale delivery of models like the GV70,” and added, “Kia Motors’ domestic sales momentum will accelerate following the launch of the 3rd generation K7 in March.”

Kia Motors sold 41,481 units in the domestic market last month, an increase of 6.8% compared to the previous month and 12% compared to the same period last year. Overseas sales also showed growth, with global wholesale sales rising 2.5% to approximately 230,000 units.

Hyundai Motor Company reported selling 59,501 units in the domestic market last month, a 25% increase compared to the same period last year. The total combined domestic and overseas sales reached about 320,000 units, up 1.6% during the same period.