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Hyundai Motor Co. has introduced its new hydrogen-powered vehicle, Initium, set for release in the first half of next year. With a target driving range exceeding 650 kilometers (404 miles) on a single refueling, it surpasses the Nexo's range and can also serve as a backup power source for households.
Hyundai Motor Co. reported a third-quarter operating profit of 3.58 trillion won ($2.6 billion), a 6.5% decline from the previous year, falling short of analysts' expectations of 3.9 trillion won. Despite a 4.7% increase in sales to 42.9 trillion won, weaker global vehicle sales and heightened geopolitical risks impacted earnings.
Hyundai Motor Co. raised approximately $3.3 billion in India's largest-ever initial public offering, despite a weak debut that saw shares drop 7.2%. However, the stock rebounded by 6% on Wednesday, driven by bullish analyst sentiment regarding the company's growth prospects amid a cooling Mumbai market influenced by China's stimulus efforts.
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