Y2Solution is showing strong performance. The news that Hyundai Motor and Kia Motors will join Tesla's Supercharger network has highlighted the company's focus on targeting the North American market with power modules for electric vehicle chargers.
As of 9:42 AM on the 6th, Y2Solution is trading at 4,005 KRW, up 6.23% from the previous day.
According to industry sources the day before, Hyundai Motor and Kia's North American subsidiaries announced that starting from the end of next year, electric vehicles sold in the United States and Canada will adopt Tesla's charging standard, the North American Charging Standard (NACS). This will apply to new vehicles released from the fourth quarter of next year in the U.S. and from the first half of 2025 in Canada. The existing Combined Charging System (CCS) charging ports will be phased out.
Electric vehicles equipped with NACS charging ports will be able to fast charge at over 12,000 Tesla Superchargers located throughout the United States, Canada, and Mexico. Hyundai and Kia plan to provide NACS adapters starting from the first quarter of 2025 to allow electric vehicles currently equipped with CCS to also use the Superchargers.
Y2Solution is a specialized manufacturer of SMPS (Switching Mode Power Supply) for displays. Leveraging high technical expertise and long experience, the company entered the electric vehicle charger power module business in 2018 and developed 30kW and 50kW power modules. It is evaluated to have secured longer lifespan and quality compared to Chinese products by incorporating the latest power semiconductors, heat dissipation components, and differentiated passive component designs.
The U.S. government has set a goal to build a total of 500,000 fast charging stations every 50 miles along highways nationwide through the National Electric Vehicle Infrastructure (NEVI) program, supporting it with a total of $5 billion. Accordingly, the U.S. electric vehicle charging infrastructure market size is expected to grow at an average annual rate of 29.1%, from $3.2 billion in 2022 to $24.1 billion by 2030.
Y2Solution has established a sales office in the U.S. and is developing its North American sales channels. Kyunggeun Kang, a researcher at NH Investment & Securities, explained, “Y2Solution signed a business agreement with AME Power, a U.S.-based contract manufacturer of power electronics products, to manufacture locally. Through this, they are pursuing compliance with local subsidy policies (local production ratio) and securing a stable supply chain in the North American region.”
He added, “They have secured growth momentum by entering the rapidly growing North American electric vehicle infrastructure market.”
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
