Sangsin Brake is showing strong performance. The news that it secured a site near the factory of Starplus Energy, a US joint venture between Samsung SDI and Stellantis, has fueled expectations that it will enter the automotive parts supply chain ecosystem.
As of 2:04 PM on the 24th, Sangsin Brake is trading at 3,955 KRW, up 12.82% from the previous day.
According to industry sources, Sangsin Brake's US subsidiary recently purchased a factory site of 44,515㎡ near the Starplus Energy battery plant in Kokomo, Indiana. Starplus Energy is investing $3.1 billion (approximately 4.043 trillion KRW) to build an electric vehicle battery cell and module factory in this area.
Sangsin Brake specializes in brake friction materials and holds the number one market share among domestic brake friction material manufacturers. Although no additional plans have been announced following the site purchase, the buying momentum is interpreted as driven by expectations that an automotive parts supply chain ecosystem will be established in this region in the future.
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