[Asia Economy Reporter Hyungsoo Park] Hyundai Industrial's stock price is on the rise. The popularity of the Ioniq 5, launched by Hyundai Motor Company, appears to have influenced the stock price.
As of 9:05 AM on the 2nd, Hyundai Industrial is trading at 9,600 KRW, up 6.55% compared to the previous trading day.
The Hyundai Motor Ioniq 5, which began pre-orders on the 25th of last month, continued to sell out not only in the domestic market but also in Europe. Hyundai Motor Europe (HME) announced on the 25th of last month (local time) that for the initial batch of 3,000 Ioniq 5 units, pre-orders exceeded 10,000, more than three times the target. They also added that purchase inquiries reached 236,000. The pre-order deposit in Europe was 1,000 euros (approximately 1.36 million KRW), which is more than 10 times (100,000 KRW) higher than in Korea.
Previously, a pre-order success record was also set in Korea. From the start of pre-orders on the 25th of last month, the sales target of approximately 26,500 units for this year was sold out within two days.
Hyundai Industrial has signed a supply contract for armrest and headrest parts to be applied to Hyundai Motor's first electric vehicle platform (E-GMP) model, the Ioniq 5, and will begin mass production starting in March. They expect sales of 28 billion KRW over the next six years. The total production scale is about 600,000 units.
A company official stated, "Starting with supplying parts for Hyundai Motor's first electric vehicle platform (E-GMP) model Ioniq 5, we plan to actively expand the supply of electric vehicle parts."
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