[Asia Economy Reporter Hyunseok Yoo] Newintec's stock price has surged for the second consecutive day. The expectation of cooperation between Hyundai Motor Company and the US-based Apple appears to be influencing the stock price. There are forecasts that the autonomous electric vehicle made by Apple, the 'Apple Car,' could be released as early as 2024.
As of 11:46 AM on January 11, Newintec was trading at 4,790 KRW, up 19.90% (795 KRW) compared to the previous trading day.
IT specialized media reported that Apple in the US has proposed cooperation to Hyundai Motor Group for the development of the 'Apple Car' and that formal negotiations are underway.
Lee Sang-hyun, a researcher at IBK Investment & Securities, explained, "The judgment may vary depending on whether Apple's goal is an electric autonomous driving system or an electric autonomous driving vehicle," adding, "If the goal is an electric autonomous driving vehicle, they will likely seek a manufacturer that can assist in electric vehicle development and has smooth global mass supply." He further stated, "It is estimated that Apple desires an electric autonomous driving vehicle," but added, "Since the form and scope of cooperation have not been revealed, it is difficult to make a definitive judgment."
He also emphasized, "For Hyundai Motor Group, collaboration on the Apple Car project will be a significant opportunity," and "They expect economies of scale and the effect of riding on a premium brand."
Currently, Newintec supplies 100% of capacitors for electric and hydrogen vehicles and 80% of capacitors for hybrid vehicles to Hyundai Motor Company and Kia Motors. They provide parts for models such as the LF Hybrid, K5 Hybrid, Grandeur Hybrid, as well as the Ioniq Electric and hydrogen fuel cell vehicles.
Capacitors, commonly known as condensers, stabilize the voltage supplied from the battery and enhance the efficiency of the vehicle motor. They are considered essential components for eco-friendly vehicles such as hybrid cars, electric vehicles, and hydrogen vehicles.
Condensers manufactured for automotive use are among the important components for hybrid vehicles, plug-in hybrid electric vehicles, electric vehicles, and hydrogen fuel cell vehicles. Newintec actively exchanges information with research teams of domestic automakers regarding condenser development.
Newintec's parts sales volume is also expected to increase alongside the growth of the eco-friendly vehicle industry.
Newintec manufactures and sells metalized film, the raw material for capacitors used in home appliances, in-house. Their material procurement capability is superior to that of other competitors.
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