[Featured Stock] Hwashin Gains on Highlighted Supply of Parts for Lucid Motors' Electric Car 'Lucid Air' in the US

[Asia Economy Reporter Minwoo Lee] Hwashin's stock price is on the rise. As the American electric vehicle company Lucid Motors (hereafter Lucid) has started producing its first electric car, the 'Lucid Air,' the recent contract to supply parts to this company appears to have been highlighted.

As of 9:40 AM on the 30th, Hwashin's stock price recorded 9,070 KRW, up 5.34% compared to the previous day. The fact that Lucid Motors has begun production of an electric vehicle recognized for having the longest driving range surpassing Tesla seems to have acted as a positive factor for the company supplying parts.

According to major foreign media, Lucid has started production of the electric sedan 'Lucid Air' at its factory in Arizona, USA. After producing 7,000 units this year, it plans to increase production to 34,000 units annually in the future. Among the top-tier models of the Lucid Air, the Dream Edition Range received certification from the U.S. Environmental Protection Agency (EPA) on the 16th for a driving range of 520 miles (approximately 837 km). This is the longest driving range record, surpassing Tesla's Model S Long Range at 405 miles.

Meanwhile, according to Hwashin's semi-annual report registered on the Financial Supervisory Service's electronic disclosure system, Hwashin signed a contract in April to supply Lucid with the 'FRT SUB FRAME STAMPING L/R' for the Lucid Air.