[Featured Stock] Tesla Model S Announces Large-Scale Global Production... Myeongshin Industry Surges

[Asia Economy Reporter Lee Seon-ae] Myungshin Industry is showing a sharp rise on the 15th. This is due to Elon Musk, CEO of Tesla, expressing expectations to produce 1,000 units per week of the newly released electric vehicle 'Model S Plaid.'

As of 9:55 AM on the day, Myungshin Industry is trading at 28,500 KRW, up 7.14% from the previous day. It rose up to 30,100 KRW.

Myungshin Industry is an automotive body parts company. Its main business is the manufacturing and sales of automotive body parts using the hot stamping method. Domestically, it supplies to first-tier partner companies such as MS Autotech (majority shareholder) and other body manufacturing companies. The first-tier partners then carry out separate production processes and finally supply to Hyundai Motor Company and Kia. Overseas, it supplies to global electric vehicle customers (such as Tesla) through its subsidiaries Simwon Tech and Simwon USA.