EcoCap Signs 187.5 Billion KRW Electric Vehicle Parts Contract with LSE Mobility... Plans to Secure Orders from VIA, Stellantis, and Others

[Asia Economy Reporter Hyungsoo Park] Ecocap announced on the 8th that it has signed a parts supply contract with LS e-Mobility Solutions to respond to the Ford project.

It is scheduled to deliver from Ecocap's Mexico factory to LS e-Mobility Solutions' Mexico factory starting at the end of 2024. The total order size is expected to be approximately 187.5 billion KRW.

Ecocap signed a memorandum of understanding on electric vehicle parts business cooperation with LS e-Mobility Solutions on December 8, 2021. On June 27 of this year, it conducted a third-party allotment paid-in capital increase investment of 5 billion KRW from LS e-Mobility Solutions. It explained that this program was won as an extension of the business.

Besides this project, Ecocap plans to increase the operating rate of its Mexico production corporation through additional electric vehicle BDU project orders from GM, Stellantis, etc., in collaboration with LS e-Mobility Solutions, and separate orders for electric vehicle high-voltage wiring from VIA, Stellantis, etc.