Hyundai Mobis and Hyundai Wia skyrocket in anticipation of expanding electric vehicle production

(Seoul = Yonhap News) Reporter Jiheon Lee = Hyundai Motor on the 4th in anticipation of the Hyundai Motor Group’s expansion of electric car production[005380] Parts affiliates’ share prices are on the rise.

Hyundai Mobis as of 11:24 a.m.[012330]Was traded at 293,000 won, up 14.68% (37,500 won) from the previous trading day.

Hyundai Wia at the same time[011210]Surged 25.05%, and Hyundai Motor, a car maker, rose 9.38%.

Mando[204320](6.29%), Hanon Systems[018880]Share prices of major suppliers that produce EV-related parts such as (4.00%) are also showing strong strength.

LG Electronics[066570]Amid a surge in share prices after establishing a joint venture with European auto parts maker Magna in the field of electric vehicle powertrain (power transmission system), Hyundai Motor’s affiliates’ electric vehicle parts technology is refocusing.

Lee Jae-il, a researcher at Eugene Investment & Securities, said, “Ioniq 5, the first new car based on Hyundai’s electric vehicle platform (E-GMP), is expected to be released in February.” “Hyundai Motor Group is expected to rapidly shift to eco-friendly vehicles. The companies that are expected to benefit most from this process are parts makers affiliated with Hyundai Motor Group such as Hyundai Mobis and Hyundai Wia.”

“Hyundai Mobis manufactures drive motors, battery modules, inverters and converters, and parts for hydrogen fuel cells, while Hyundai Wia manufactures electric vehicle thermal management modules, motors and reducers, and parts for hydrogen fuel tanks,” Lee explained.

Kim Min-kyung, a researcher at Mirae Asset Daewoo, said in an analysis report of Hyundai Mobis, “The importance of electric vehicle powertrain is emerging in the entire industry, such as the announcement of a joint venture between LG Electronics and Magna recently.” One situation” he said.