[Asia Economy Reporter Hyungsoo Park] Ezytronics is showing strong performance. As the electric vehicle and secondary battery markets expand, interest in companies possessing used battery recycling technology is increasing. With used battery-related stocks surging in the domestic stock market, Ezytronics is also rebounding. Since its listing on the KOSDAQ market on February 4th at an initial public offering price of 22,000 KRW, the stock had been on a weak trend.
As of 10:57 AM on the 26th, Ezytronics is trading at 16,450 KRW, up 10.77% from the previous day.
Ezytronics is a specialized power conversion device company developing power conversion equipment for electric vehicles (EV), communication equipment (5G), and defense vehicles. It mass-produces DC/AC inverters, DC/DC converters, OBCs for electric vehicles, core components for 5G core networks, and key parts for small tactical vehicles and unmanned reconnaissance vehicles in the defense sector. It is the domestic number one company for DC/DC converters and braking inverters for electric vehicles and hydrogen buses. It is also the leading domestic company for 5G communication equipment and PSU for optical repeaters, making it a representative domestic power conversion device company.
The eco-friendly mobility business segment that Ezytronics focuses on is the commercial vehicle market. Alongside the rapid growth of the passenger electric vehicle market, the adoption rate of electric buses and electric trucks in the commercial vehicle market is also rapidly increasing. The global electric bus market is expected to grow about fivefold from approximately 99,000 units in 2021 to 450,000 units by 2030. The global electric truck market is projected to grow about sixteenfold from around 280,000 units in 2021 to 4.83 million units by 2030.
Ezytronics already holds the number one domestic market share for braking inverters for commercial buses in Korea. Overseas customers are expected to increase significantly starting this year. There is also growing anticipation for entry into the ESS business utilizing used batteries. With the expansion of electric vehicles and ESS adoption, used battery disposal has emerged as a new environmental issue.
Ezytronics is currently conducting a demonstration project for used battery ESS in collaboration with domestic automakers, utilizing used battery balance adjustment technology. The company aims to mass-produce and sell ESS using used batteries from 2024 onward.
Jongseon Park, a researcher at Eugene Investment & Securities, explained, "The generation of used batteries is expected to surge after 2025," adding, "Ezytronics developed used battery reuse technology and conducted a demonstration project with Hyundai Motor Company."
He continued, "The electric vehicle fast-charging market is also one of the promising markets," noting, "Last December, the company was selected as a developer of power modules for 120kW-class fast chargers."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
