[Click eStock] "Inpac, Growth Expected Through Large-Scale Investment"

ResearchAlum analyzed on the 3rd that Infac continues to grow through expanding overseas production bases and mergers and acquisitions. It also predicted that this year's performance will exceed expectations.

Choi Seonghwan, a researcher at ResearchAlum, explained, "Hyundai Motor and Kia are expanding their electric vehicle lineups," adding, "Last year, the increase in electric vehicle sales such as Ioniq 5 and GV60 improved Infac's performance."

He continued, "This year, the Ioniq 6 is gaining great popularity, and new electric vehicle launches such as GV80 and EV9 are imminent," adding, "On the 2nd of last month, Infac held a groundbreaking ceremony for a $53 million (approximately 70 billion KRW) investment at its factory in Kentucky, USA."

He analyzed, "This is the first large-scale investment expansion in 15 years," and "The investment funds are planned to be secured through existing funds and some borrowings."

Researcher Choi emphasized, "It is known that the North American subsidiary will produce electronic components and battery cell cases," adding, "Battery cell cases are a business previously conducted by the subsidiary Infac EPM, which is not yet a consolidated entity and therefore not reflected in sales revenue."

Additionally, "Expectations for power electronics PCB peripheral components are also high," while "Infac has succeeded in developing the BEV-Q platform EPCB for SK On and Ford, and the VDA355 platform BFA FPCB for LG Energy Solution and Stellantis," he added.

He explained, "If these products are produced at Infac's North American subsidiary, it can be judged as a success in diversifying customers and expanding the product lineup," adding, "This will act as a factor for revaluation."