[Featured Stock] Filmtech, World's First Hydrogen Truck Surpassing Nikola... Supplying Hydrogen Commercial Parts to Hyundai Motor Company

[Asia Economy Reporter Hyungsoo Park] Younghwa Tech is showing strong performance. It appears that the news of Hyundai Motor Company establishing the world's first mass production system for hydrogen electric large trucks and targeting the overseas eco-friendly commercial vehicle market has influenced the stock price. Younghwa Tech signed a supply contract last year with Hyundai Motor for hydrogen commercial vehicle LDC (Low Voltage DC-DC Converter).

As of 11:31 AM on the 6th, Younghwa Tech is trading at 15,100 KRW, up 15.71% compared to the previous trading day.

Hyundai Motor announced that 10 Xcient hydrogen electric trucks departed for Switzerland from Gwangyang Port, Jeollanam-do on the same day. Hyundai plans to export a total of 1,600 units by 2025.

Following passenger cars (Nexo), Hyundai Motor is expected to solidify its position as a leading hydrogen electric vehicle brand by starting mass supply of hydrogen electric trucks.

Lee In-cheol, Vice President and Head of Hyundai Motor’s Commercial Vehicle Division, said, "This is not just a simple sale, but a method of supplying vehicles by building an ecosystem where production, distribution, and consumption circulate together in cooperation with European hydrogen partners."

Before exporting to Switzerland, Hyundai Motor established a joint venture called 'Hyundai Hydrogen Mobility' with Swiss hydrogen solution specialist H2 Energy in September last year.

American hydrogen electric truck manufacturer Nikola began accepting pre-orders for the 'Badger' pickup truck from the 29th of last month (local time), despite having neither a factory nor a prototype. The Badger prototype has not been disclosed yet.

The pre-order deposit is 5,000 USD (approximately 6.01 million KRW). As of the 30th of last month (local time), Nikola’s market capitalization was 21 billion USD (25.26 trillion KRW), surpassing Hyundai Motor’s market capitalization of 21.5 trillion KRW.

Younghwa Tech continues to develop technology in the large hydrogen cargo vehicle sector. It is developing electric powertrain design and manufacturing technology and is also working on a high-voltage booster system for hydrogen fuel cell vehicles.