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Ford, SK Innovation set to announce EV battery JV kedglobal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from kedglobal.com Daily Mail and Mail on Sunday newspapers.
SK Innovation posts 502.5 billion won operating profit in Q1, expects strong battery orders SK Innovation s battery sales soared 80 percent on-year to a record 526.3 billion won due to the start of production for Hyundai Motor Co. s latest electric SUV, the IONIQ5. Thursday, May 13, 2021 11:19 PM UTC SK Innovation Co. posted a 502.5 billion won operating profit on a consolidated basis in the first quarter, turning around from a loss of 1.8 trillion won in the previous year. The profit, the first in five quarters for the South Korean oil refiner and battery maker, beat the market consensus by 30 percent. However, it lost 527.6 billion won in operating loss before the tax due to the hefty settlement costs for a battery lawsuit with LG Energy Solution Ltd. ....
South Korea's SKIET shares debut at double IPO price channelnewsasia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from channelnewsasia.com Daily Mail and Mail on Sunday newspapers.
SKIETâs first-day pop moderates after stock debuts at double IPO price By Syndicated Content By Heekyong Yang and Scott Murdoch SEOUL/HONG KONG (Reuters) â Battery material maker SK IE Technology Co Ltd (SKIET) saw its stock hover up 50% on its debut day, pulling back from market open when it started trade at double the price set during its record-breaking initial public offering (IPO). SKIETâs shares opened at 210,000 won on Tuesday, valuing the manufacturer at about 15 trillion won ($13.44 billion). They dropped as much as 26% from that peak as the day wore on, compared with a 1.5% fall in the KOSPI benchmark share price index. ....
Korean battery maker SKIET shares debut at double IPO price May 11, 2021 South Korean battery material maker SK IE Technology Co Ltd (SKIET) saw its stock debut on Tuesday at double its initial public offering (IPO) price, amid rising expectations of electric vehicles (EVs) displacing those powered by fossil fuel. SKIET’s shares opened at 210,000 won, valuing the manufacturer at about 15 trillion won ($13.44 billion). The listing comes as automakers worldwide increasingly add and even replace traditionally powered cars in their line ups with new-energy alternatives such as fully electric vehicles. SKEIT supplies separators, a key component in lithium-ion batteries, to battery makers including SK Innovation Co Ltd, Samsung SDI Co Ltd, LG Energy Solution Ltd and Japan’s Panasonic Corp. Last year, revenue from the component made up 56% of total sales, accelerating from 19% in 2018. ....