Market Chatter: Hyundai Motor, Kia Acquire 11% Stake in Kolon Spaceworks

MT Newswires Live

Feb 05, 2025

Shares of Kolon (KRX:002020) rose over 1% in recent trade on Wednesday after Hyundai Motor (KRX:005380) and Kia (KRX:000270) entered into a strategic partnership with its wholly-owned Kolon Spaceworks, investing 20 billion won to acquire a combined 11% stake to become its second-largest shareholder.

The partnership will focus on developing advanced materials for hydrogen storage containers, battery covers, and addressing environmental regulations such as the EU's end-of-life vehicles (ELV) directive, Pulse News reported Tuesday.

The collaboration will also include refining paint-free composite molding technology for future electric and hydrogen vehicle models, the report said.

Shares of Hyundai Motor rose more than 1% in recent trade on Wednesday, while those of Kia increased over 2%.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0106261372.USD","symbol_name":"SCHRODER ISF US LARGE CAP \"A\" ACC","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2509440526","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2509440526","pubTimestamp":1738729275,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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