[Special Stock] Camsys Collaborates with SK Geocentric on Lightweight New Materials for Electric Vehicles... No.1 in Domestic Ultra-Compact Electric Cars

[Asia Economy Reporter Park Hyungsoo] Camsys is showing strong performance. The news that its subsidiary, CEVO Mobility, signed a business agreement with SK Geocentric (formerly SK Comprehensive Chemical) to develop lightweight materials for ultra-small electric vehicles appears to have influenced the stock price.

At 10:56 AM on the 3rd, Camsys was trading at 2,430 KRW, up 22.11% from the previous day.

CEVO Mobility, a domestic ultra-small electric vehicle manufacturer, was spun off from its parent company Camsys in April and is the number one in the domestic ultra-small electric vehicle industry, centered on the ultra-small electric vehicle model 'CEVO-C'.

Under this agreement, the two companies will jointly develop new materials and conduct verification work to lighten key parts of ultra-small electric vehicles.

SK Geocentric plans to expand the application of lightweight materials to ultra-small electric vehicles and other areas in addition to its existing lightweight solutions for passenger and commercial vehicles through this collaboration.

Park Youngtae, CEO of CEVO Mobility, said, "We are pleased to collaborate with SK Geocentric, a leader in the domestic and international new materials field," adding, "We will develop lighter and stronger automotive materials to enhance the core competencies of ultra-small electric vehicles, such as lightweight and safety."

Baek Seongchan, head of the Automotive Division at SK Geocentric, stated, "This collaboration is meaningful in that automotive manufacturers and material companies jointly develop lightweight materials to advance the value chain of the domestic electric vehicle industry," and added, "Through cooperation with CEVO Mobility, we will expand our eco-friendly materials business in the mobility sector, including electric vehicles."