[Asia Economy Reporter Hyunseok Yoo] Sewon is showing strong performance. It appears that rumors about the American electric vehicle company Lucid Motors emerging as a potential partner for Apple's autonomous electric vehicle, Apple Car, have influenced the stock price. Sewon supplies electric vehicle HVAC components to Lucid Motors.
As of 10:26 AM on the 27th, Sewon's stock was trading at 6,290 KRW, up 11.52% (650 KRW) compared to the previous trading day.
On the same day, a media outlet reported that Lucid Motors is being mentioned as a leading manufacturer for Apple Car. It is presumed that Jony Ive, Apple's former Chief Design Officer (CDO), played an intermediary role at Church Capital IV, a special purpose acquisition company (SPAC) associated with Lucid Motors.
Lucid Motors' strong interest in autonomous driving technology is also one of the reasons it is attracting attention as a partner for Apple. Church Capital IV signed a merger agreement with Lucid Motors at the end of February. Lucid Motors will be listed on the Nasdaq market through this merger. The post-merger company valuation is estimated at $24 billion (approximately 26 trillion KRW).
Sewon supplies HVAC components for Lucid Motors' first mass-produced electric vehicle, the 'Lucid Air' model. Last year, it secured an order worth 6.3 billion KRW for electric vehicle header condensers. The Lucid Air is a pure electric vehicle regarded as a luxury sedan comparable to Tesla's Model S. Lucid Motors plans to launch the Lucid Air in the second half of this year.
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