Market Chatter: Hyundai Motor, ChaeVi Team Up to Expand EV Charging
Hyundai Motor Group, the parent of Hyundai Motor (KRX:005380) and Kia (KRX:000270), and electric vehicles supply equipment manufacturer ChaeVi (KOSDAQ:0011T0) entered a partnership to expand EV charging services in South Korea, Pulse News reported Tuesday.The collaboration will expand plug & charge (PnC) technology to around 1,500 Chaevi EV charging stations across the country, which would allow automatic user authentication, charging, and payment when an EV is plugged in, the report said.Hyundai Motor Group and ChaeVi did not immediately respond to' request for comment.Shares of ChaeVi fell more than 3% at market close, while those of Kia fell nearly 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.)
