Hyundai's Profit Decline: Not Weak Sales, But Uncontrollable Manufacturing Costs

Last week I saw a message in a supplier group chat saying that the battery pack BOM cost for a certain Hyundai EV model was about 12% higher than ours for the same class. I didn't think much of it at the time, but today seeing Hyundai's Q2 earnings report with net profit attributable to parent company shareholders down 15.9% YoY, I pretty much have my answer.