[Featured Stock] Hwasung R&A Rises as Apple Car Beneficiary Following Hyundai Motor Group Stake Acquisition

[Asia Economy Reporter Minwoo Lee] The stock price of auto parts manufacturer Hwasung R&A is on the rise. It is expected to benefit as it is classified as a related stock following news of Hyundai Motor Group and US company Apple’s push for the 'Apple Car.'

As of 10:12 AM on the 4th, Hwasung R&A's stock price recorded 3,100 won, up 15.03% from the previous day. This is because it has been highlighted as a beneficiary of the autonomous driving car collaboration news between Hyundai Motor and Apple. Hyundai Mobis, part of Hyundai Motor Group, purchased a 3% stake (1.7 million shares) in Hwasung R&A in 2017.

Hwasung R&A also consistently supplies to Hyundai Motor Group. As of the end of last year, it secured approximately 22 billion won in orders for Hyundai Motor’s eco-friendly vehicles such as the Ioniq 5, Ioniq 6, Nexo, and Genesis electric cars. Specifically, it mass-produces the battery cooling line, a coolant pipe for battery temperature control applied to the Hyundai Kona electric vehicle. It also supplies low-ion emission cooling hoses installed in the hydrogen vehicle Nexo.