Automotive electronic component manufacturer Mobease Electronics is showing strong performance. The company was selected as a ‘priority partner’ by Volvo Trucks and signed an electronic component supply contract, which appears to be influencing its stock price.
As of 2:07 PM on the 15th, Mobease Electronics is trading at 2,095 KRW, up 11.44% from the previous trading day.
Mobease Electronics announced on the same day that Volvo Trucks executives recently visited the company’s headquarters to discuss the cooperative relationship between the two companies. Christopher Lindstrom, Vice President of Volvo Trucks, inspected Mobease Electronics’ supply chain and selected the company as a priority partner.
By being selected as Volvo Trucks’ priority partner, Mobease Electronics secured a status that allows negotiations on an equal footing and concretized action plans to elevate the relationship between the two companies through regular exchanges. The two companies also discussed supply chain inspections and various issues related to the ESG sector, which has been strengthening recently in Europe.
Volvo Trucks expressed high satisfaction with the vehicle integrated controller supply contract signed with Mobease Electronics in 2021. Additionally, they signed an extension contract to supply for the next five years starting from 2028. Through this additional supply contract with Volvo Trucks, Mobease Electronics is expected to accelerate its global market penetration along with enhancing its global recognition for durability and quality.
A representative from Mobease Electronics said, "We believe it is highly significant to be selected as Volvo Trucks’ priority partner and simultaneously sign an additional electronic component supply contract. Following the supply of vehicle integrated controllers worth 63 billion KRW over seven years since 2021, this contract is expected to reach a total scale of 100 billion KRW."
He added, "In the first half of last year, we signed supply contracts with Renault Europe and VinFast Vietnam, and in the second half, we secured a contract with Saudi Arabia’s first domestic company, Sear Motors. These consecutive orders are expanding our influence in the global market. We will continue to strive to secure large-scale orders from global companies in the second half of this year as well."
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