[Special Stock] CentralMotec Rises on Tesla's Strong Earnings

[Asia Economy Reporter Park Soyeon] Tesla in the United States posted strong earnings, boosting the stock price of its partner company Centralmotec.

As of 9:34 a.m. on the 26th, Centralmotec's stock was trading at 32,250 KRW, up 4,650 KRW (16.85%) from the previous day.

Centralmotec operates a business that produces drive systems and suspension devices among automotive parts and supplies them to completed car manufacturers. As a new business, it is discovering and commercializing ball screws and other products.

The aluminum control arm, developed for the first time in Korea, has secured the largest production facility in the country and is being supplied to overseas completed car manufacturers through affiliates as well as Hyundai Motor Group.

Production activities are carried out at three factories in Ulsan, Miryang, and Seosan, as well as at the Daegu factory of its subsidiary Central DTS.

Its market capitalization is 275.5 billion KRW, ranking 528th on the KOSPI.