[Special Stock] 'Car Parts Stocks' Stirred by Lucid's IPO 추진

[Asia Economy Reporter Hwang Junho] Domestic automobile-related stocks are soaring following the listing news of Lucid Motors, known as the second Tesla.

As of 10 a.m. on the 18th, CentralMotors is trading at 39,400 KRW, up 25.28% from the previous day. CentralMotors is the only company in Korea that possesses forging technology necessary for manufacturing control arms connecting the car body and wheels. It supplies electric vehicle air conditioning system parts to Tesla, Ford, and Lucid Motors, and has established a strategic partnership with Lucid.

Lucid Motors is a U.S. electric vehicle manufacturer, with the Saudi sovereign wealth fund, the Public Investment Fund, investing over 1 billion USD. Peter Rawlinson, a former senior Tesla technology executive, is known to be participating as the CEO. Lucid is currently undergoing a merger listing transaction with a Special Purpose Acquisition Company (SPAC). This SPAC is 'Churchill Capital Corp IV,' launched last year by businessman Michael Klein, a former Citigroup executive, who raised 2 billion USD in funds. The official announcement of the merger is expected as early as this month, with Lucid's corporate value estimated at approximately 12 billion USD (about 13.3 trillion KRW).

Along with CentralMotors, Seowon, which signed a supply contract for heaters and condensers with Lucid in December last year, is also soaring.