Previous close | 118,400.00 |
Open | 118,700.00 |
Bid | 116,000.00 x 0 |
Ask | 116,100.00 x 0 |
Day's range | 116,000.00 - 118,900.00 |
52-week range | 107,500.00 - 224,744.33 |
Volume | |
Avg. volume | 415,050 |
Market cap | 11.362T |
Beta (5Y monthly) | 1.53 |
PE ratio (TTM) | N/A |
EPS (TTM) | N/A |
Earnings date | 02 May 2024 - 06 May 2024 |
Forward dividend & yield | N/A (N/A) |
Ex-dividend date | 29 Dec 2021 |
1y target est | 170,857.00 |
South Korean energy group SK Innovation, on Tuesday forecast slowing growth in global electric vehicle (EV) demand, joining an increasing number of automakers and suppliers expressing concern about the market for EVs. The owner of South Korea's biggest refiner SK Energy posted operating profit of 73 billion won ($54.75 million) for the fourth quarter ended December, compared with a 765 billion won loss a year earlier. SK Innovation said it had a capital spending budget of about 9 trillion won for this year, slightly down from about 10 trillion won last year, with more than 80% allocated for its battery business as it continues to ramp up production abroad.
South Korea's SK On plans to start mass producing lithium iron phosphate (LFP) batteries as early as 2026 to supply several automakers as it pushes to deliver a lower cost battery chemistry favoured by its Chinese rivals, a senior executive said. The company is in talks with some major traditional automakers, or original equipment manufacturers (OEMs), that are looking to line up LFP battery supply deals, SK On's Chief Administrative Officer Choi Young-chan said. Choi did not disclose the names of automakers but said the company plans to start mass producing LFP batteries once discussions are finalized.
Three companies are creating a joint venture to produce battery cells for commercial electric vehicles in the United States. Cummins (CMI), Paccar (PCAR), Daimler (MBG.DE) have created a joint venture that will spend $2 to $3 billion to build a battery cell factory in a yet to be determined U.S. location. Yahoo Finance Senior Reporter Pras Subramanian breaks down the deal and discusses the growing EV investments in the United States.