Dongwon Metal Anticipates Apple Car Electric Vehicle Battery Frames... Hyundai-Kia's 'Half-Century Partner'

[Featured Stock] Major Foreign Media "Hyundai·Kia Motors in Final Stage of Apple Car Production Negotiations"
Expected Significant Growth Through Collaboration with Apple Based on Advanced Electric Vehicle Battery Frame Technology

[Asia Economy Reporter Park Hyungsoo] Hyundai and Kia Motors are reportedly in the final stages of negotiations to produce autonomous electric vehicles under the Apple brand, known as the "Apple Car," according to foreign media reports. This development is also affecting the stock price of Dongwon Metal, which has a production plant near Kia's Georgia factory in the United States.

As of 9:47 AM on the 4th, Dongwon Metal's stock is trading at 1,465 KRW, up 9.33% from the previous day. Its market capitalization exceeds 68 billion KRW.

On the 3rd (local time), major U.S. economic media outlets reported, citing sources, that negotiations are nearing completion to manufacture autonomous electric vehicles bearing the Apple brand at Kia's assembly plant in West Point, Georgia.

Dongwon Metal has been a long-time partner of Hyundai Motor Group and was the first in Korea to produce door frames for Hyundai's 1976 "Pony" model. The company supplies automotive body parts such as bumpers and door frames. Dongwon Metal operates a plant in Georgia located about 30 miles (48 km) north of Kia's Georgia plant. It is an automotive parts specialist focusing on the production of various channels including automotive door frames, cowl cross members, and battery frames for electric vehicles.

Dongwon Metal also has a factory in Alabama near Georgia and is known to have advanced technology in manufacturing battery frames for electric vehicles. If Kia and Apple collaborate, Dongwon Metal is considered one of the companies poised for the greatest growth.