Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Equity Bottom-Up

<ul>
<li>Hyundai Motor (005380 KS) launched its long-awaited Ioniq 6 on 14 July. This is the first EV sedan by Hyundai Motor.</li>
<li>Ioniq 6 could be a big winner for Hyundai Motor. Among all the features of Ioniq 6, the driving range is the biggest improvement versus Ioniq 5. </li>
<li>The combination of attractive price, sleek design, and higher driving range is likely to result in a strong demand for Ioniq 6.</li>
</ul>


Hyundai Motor (005380 KS) launched its long-awaited Ioniq 6 on 14 July. This is the first EV sedan by Hyundai Motor.
Ioniq 6 could be a big winner for Hyundai Motor. Among all the features of Ioniq 6, the driving range is the biggest improvement versus Ioniq 5. 
The combination of attractive price, sleek design, and higher driving range is likely to result in a strong demand for Ioniq 6.


Hyundai Motor's Ioniq 6 - To Take Away More Market Share From Tesla Model 3 Sedan?

Consumer Analyst / Channel Surveillance Specialist, Trudence Capital Advisors

Pranav Bhavsar

Consumer Analyst / Channel Surveillance Specialist

Trudence Capital Advisors

Trudence Capital Advisors Private Limited is a SEBI-registered Research Analyst, holding SEBI registration number INH000015747. Our firm is dedicated to providing independent and unbiased research on Indian mid to large-cap companies. Trudence Capital is known for its counter-consensus views, with a focus on forensic research and on-ground primary investigations. Our research approach is thorough, involving detailed analysis of accounting practices and governance, alongside extensive channel checks.

Independent & Unbiased Research

<ul>
<li>
<a href="https://www.smartkarma.com/entities/maruti-suzuki-india-ltd" target="_blank" data-smartkarma-citation="entities:733:1" rel="noopener">Maruti Suzuki India (MSIL IN)</a> 's dealers are optimistic, expecting easing supply, new launches and the Maruti brand promise to drive back some of the lost market share. </li>
<li>
<a href="https://www.smartkarma.com/entities/kia-motors-corp" target="_blank" data-smartkarma-citation="entities:156:1" rel="noopener">Kia Motors Corp (000270 KS)</a> is gaining when it comes to fighting with its big brother <a href="https://www.smartkarma.com/entities/hyundai-motor-co" target="_blank" data-smartkarma-citation="entities:155:1" rel="noopener">Hyundai Motor Co (005380 KS)</a>. </li>
<li>There is a set of customers that now prefers Indian brands giving a good tailwind for <a href="https://www.smartkarma.com/entities/tata-motors-ltd" target="_blank" data-smartkarma-citation="entities:216:1" rel="noopener">Tata Motors Ltd (TTMT IN)</a> &amp; <a href="https://www.smartkarma.com/entities/mahindra-mahindra-ltd" target="_blank" data-smartkarma-citation="entities:16441:1" rel="noopener">Mahindra &amp; Mahindra (MM IN)</a>. </li>
</ul>



Maruti Suzuki India (MSIL IN) 's dealers are optimistic, expecting easing supply, new launches and the Maruti brand promise to drive back some of the lost market share. 

Kia Motors Corp (000270 KS) is gaining when it comes to fighting with its big brother Hyundai Motor Co (005380 KS). 
There is a set of customers that now prefers Indian brands giving a good tailwind for Tata Motors Ltd (TTMT IN) &amp; Mahindra &amp; Mahindra (MM IN). 


India Channel Insight #39 | Maruti, Hyundai

<ul>
<li>Hyundai's IONIQ 5 surpassed Tesla's Model 3 within a year of its launch. Hyundai's IONIQ 5 was the best selling EV in Korea in January to May 2022.</li>
<li>Tesla EV sales in the first five months in Korea slipped to number three from its number one position in the same period last year. </li>
<li>Hyundai Motor is expected to introduce IONIQ 6 later this year. However, Elon Musk mentioned that Tesla will not launch any new models until 2023 at the earliest</li>
</ul>


Hyundai's IONIQ 5 surpassed Tesla's Model 3 within a year of its launch. Hyundai's IONIQ 5 was the best selling EV in Korea in January to May 2022.
Tesla EV sales in the first five months in Korea slipped to number three from its number one position in the same period last year. 
Hyundai Motor is expected to introduce IONIQ 6 later this year. However, Elon Musk mentioned that Tesla will not launch any new models until 2023 at the earliest


<ul>
<li>The US President Joe Biden is planning to visit South Korea on 20 to 22 May to meet the new South Korean President Yoon Suk-Yeol.</li>
<li>Hyundai Motor is likely to announce investments of nearly $7 billion for building a mega EV facility in Georgia which was leaked in the media in the last few days.</li>
<li>Hyundai Motor is aggressively penetrating the global EV markets and it is becoming an increasing threat against Tesla. Hyundai Motor has outperformed Tesla in the past 6 months.</li>
</ul>


The US President Joe Biden is planning to visit South Korea on 20 to 22 May to meet the new South Korean President Yoon Suk-Yeol.
Hyundai Motor is likely to announce investments of nearly $7 billion for building a mega EV facility in Georgia which was leaked in the media in the last few days.
Hyundai Motor is aggressively penetrating the global EV markets and it is becoming an increasing threat against Tesla. Hyundai Motor has outperformed Tesla in the past 6 months.


Joe Biden's Visit to South Korea: Hyundai Motor Ready to Announce $7 Billion Investment in EVs in US

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Quantitative Analysis

<ul>
<li>We look at short interest across Hong Kong, Japan, Korea and Taiwan in April to identify stocks/sectors that have seen the largest changes in each market.</li>
<li>Korea and Taiwan are showing a clear divergence with short notional increasing as the market moves lower, indicative of new shorts being initiated.</li>
<li>
<a href="https://www.smartkarma.com/entities/china-merchants-bank-co-ltd-3388a037-4214-4997-b45d-520518cfdb57" target="_blank" data-smartkarma-citation="entities:10987:1" rel="noopener">China Merchants Bank H (3968 HK)</a> has seen the largest short covering as the stock has tumbled in the last couple of weeks.</li>
</ul>


We look at short interest across Hong Kong, Japan, Korea and Taiwan in April to identify stocks/sectors that have seen the largest changes in each market.
Korea and Taiwan are showing a clear divergence with short notional increasing as the market moves lower, indicative of new shorts being initiated.

China Merchants Bank H (3968 HK) has seen the largest short covering as the stock has tumbled in the last couple of weeks.


Asia Short Interest: Large Moves in April

South Korea

Kia Corporation manufactures, sells, and exports passenger cars, mini-buses, trucks and commercial vehicles. The Company also manufactures auto-parts and tools using hybrid electric and fuel cell technology. Kia markets its products worldwide.

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Kia Corp (000270 KS)

India Channel Insight #39 | Maruti, Hyundai

Going into FY23, the competitive dynamics in the Indian PV industry is changing. Maruti is expected to leverage its brand promise, Kia is eating...

Pranav Bhavsar

Tesla Slips From #1 to #3 in Korea

Hyundai's IONIQ 5 surpassed Tesla's Model 3 within a year of its launch. Hyundai's IONIQ 5 was the best selling EV in Korea in January to May 2022.

Douglas Kim

Joe Biden's Visit to South Korea: Hyundai Motor Ready to Announce $7 Billion Investment in EVs in US

Hyundai Motor is likely to announce investments of nearly $7 billion for building a mega EV facility in Georgia which was leaked in the media in...

Douglas Kim

Asia Short Interest: Large Moves in April

Short notional in Korea and Taiwan has been increasing as the market has been moving lower. Shorts on China Merchant Bank have been covered in...

Brian Freitas

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Hyundai Motor's Ioniq 6 - To Take Away More Market Share From Tesla Model 3 Sedan?

Hyundai Motor launched its long-awaited Ioniq 6 on 14 July. This is the first EV sedan by Hyundai Moto. Among all the features of Ioniq 6, the...

Douglas Kim

India Channel Insight #39 | Maruti, Hyundai

Going into FY23, the competitive dynamics in the Indian PV industry is changing. Maruti is expected to leverage its brand promise, Kia is eating...

Pranav Bhavsar

Tesla Slips From #1 to #3 in Korea

Hyundai's IONIQ 5 surpassed Tesla's Model 3 within a year of its launch. Hyundai's IONIQ 5 was the best selling EV in Korea in January to May 2022.

Douglas Kim

Joe Biden's Visit to South Korea: Hyundai Motor Ready to Announce $7 Billion Investment in EVs in US

Hyundai Motor is likely to announce investments of nearly $7 billion for building a mega EV facility in Georgia which was leaked in the media in...

Douglas Kim

Asia Short Interest: Large Moves in April

Short notional in Korea and Taiwan has been increasing as the market has been moving lower. Shorts on China Merchant Bank have been covered in...

Brian Freitas