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The vehicle manufacturer Hyundai Motors has recently reached its highest level of rally in its shares. Market rumors also surround the company, as the Elliot Management Corp may have acquired a share in Hyundai Motor.  The recent surge also sparks hopes for the reorganizing of the Hyundai’s core structure.

Hyundai Motor Company produces over 1.6 million of vehicles annually, and earlier this Tuesday, the automobile giants have experienced its highest share rally at 9%. This surge is the largest the company felt after almost 22 months of grinding. Chairman Chung Mong-Koo, the leader of the second largest conglomerate just after Samsung in South Korea, may reconstruct the company’s core stature.

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Market Rumors: Elliot’s Hyundai Acquisition

Market news speculating that activist hedge fund Elliott Management Corp. may have been doing underground talks with the automobile company regarding any shares being acquired. It is a valid speculation as Hyundai has been topping South Korea’s automobile market according to analysts.

Elliot has been dodging any comments to further clarify the speculations, and Hyundai Motor said that it doesn’t comment on market speculation. Elliot has been pressuring Samsung, the largest conglomerate in South Korea, to restructure and pay the dividend. 

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Hyundai’s Structural Move

Now, Hyundai may need to rush the revamping of its group structure as politicians call for reforms of family-owned conglomerates. The hastiness is brought upon by the graft scandal involving the current South Korean President Park Geun-hye.

According to Goldman Sachs’ "The company is part of a particularly complex and suboptimal capital and corporate structure, and we see significant value that can be unlocked from restructuring," and "In contrast to the consensus view that Hyundai Mobis would become the ultimate holding company, we see Hyundai Motor as the nexus for restructuring,"

FSMNewsHyundai Seatbelt Debacle

The automotive giant has been issuing recalls for their Sonata sedan. The recalls are over 977,778 Sonata from the year 2011-2014 with production dates of December 11, 2009, and May 29, 2014. The 2011-2015 Sonata hybrid vehicles with production dates from December 2, 2010, and January 9, 2015 are also included.

The current issues the company undertakes is the seat belt assembly. Some of the seat belts fasteners aren’t fully connected to the linkage causing them to separate if a collision takes place. Reported injury related to the defect as of late are minor injuries, no major injuries were stated.

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New “I” From Hyundai

The South Korean automobile giant has recently revealed an Ioniq Electric trim option they locally call the “I”. The headlining factor the new electric vehicle poses is the cheap price tag it comes with, coming at 18.4 million won or roughly $16,300.

Hyundai currently sits atop of Ioniq Electric sales in South Korea at a total of 3,749 units sold, garnering a total of 63% of the current electronic vehicle market. No additional reports have stated that they would be offering the “I” on parts of Europe and US.

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