◀ Anchor ▶
Today, Hyundai Motor Group’s market capitalization fell by more than 9 trillion won when Hyundai Kia Motors announced that it has halted consultations with Apple to develop autonomous vehicles.
Reporter Lee Yoo-kyung reported what this phenomenon explains for the future car market.
◀ Report ▶
This is the announcement that Hyundai Motor Company announced earlier this morning.
‘We are not in consultation with Apple on the development of autonomous vehicles.’
Kia made the same announcement.
Hyundai Motor’s share price fell 6.2% and Kia’s 15% today.
The market capitalization of 9.4 trillion won has disappeared.
However, the partnership card with Apple may not be completely over.
[이항구/한국자동차연구원 연구위원]
“Hyundai Motor has been well prepared for future cars, so it is true that global ICT companies and parts makers are actively seeking cooperation with Hyundai Motor Company.”
A cataclysm is taking place in the global automotive industry.
U.S. GM has said it will stop selling all internal combustion vehicles by 2035 and Volkswagen by 2040.
Hyundai Motor Company declared to enter the flying automobile field,
Kia has omitted the three letters’car’ from the company name.
Cars don’t even appear in the newly released ad.
[김필수/대림대 자동차학과]
“It means that who controls future mobility will be the center of the business model of the future. In a way, Apple Cars sees it as the starting point for the mobility foundry in the future, the starting point for making cars on demand.”
On the other hand, some companies have been driven into crisis.
Ssangyong Motors
Major shareholder Mahindra has announced that he will quit, but negotiations to find a new owner have recently failed.
The diesel SUV, which used to be the strength of Ssangyong Motors, became a weakness.
The problem is the workers.
[김득중/금속노조 쌍용차지부장자동차]
“Because I have such anxiety about the change of the market and the future, and I am really thirsting for investment and development. It is true that the anxiety of workers in the field is increasing.”
This employment insecurity is the same for Hyundai Motor Company.
The number of parts in an electric car is one-third of that of an internal combustion engine car.
According to Hyundai’s plan now, 60% of production jobs will disappear within 10 years.
The crisis for our partners will be worse.
With EVs taking up all issues, the employment cliff is also approaching.
This is Yookyung Lee of MBC News.
(Video coverage: Kang Jaehoon / Video editing: Sangmin Lee)
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