[Asia Economy Reporter Park Hyungsoo] To strengthen competitiveness in the next-generation electric vehicle market, Hyundai Motor Group's Vice Chairman Chung Euisun reportedly personally visited Samsung Electronics Vice Chairman Lee Jae-yong and LG Chairman Koo Kwang-mo to request cooperation, which appears to be influencing stock prices.
At 9:44 a.m. on the 23rd, Samki Automotive was trading at 3,025 KRW, up 15.46% from the previous day.
Vice Chairman Chung visited LG Chem's Ochang plant on the 22nd and held his first one-on-one meeting with LG Chairman Koo Kwang-mo. This visit came a month after his meeting with Samsung Electronics Vice Chairman Lee Jae-yong last month. Industry insiders see significance in the fact that the country's leading automaker and battery companies are preparing to form a "dream team." Samsung SDI and LG Chem are among the top five global electric vehicle battery manufacturers. It is expected that strengthening collaboration between the decision-making heads will enable proactive responses to the rapidly changing trends in the electric vehicle market.
Samki Automotive announced on the 19th that it signed a new contract worth 138.6 billion KRW for battery parts for electric vehicle-dedicated platforms through LG Chem. These are end-plate parts for electric vehicle batteries continuously ordered through LG Chem. The expected sales scale is 138.6 billion KRW. The supply period is from February 2021 to 2031.
A company official explained, "As the electric vehicle market environment continues to change, the supply volume for European premium brand automakers has significantly increased from the previous order amount of 84.1 billion KRW to the current 168.8 billion KRW, and the total order volume continues to grow."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
