[Featured Stock] KR Motors Becomes Largest Shareholder of Green Mobility, Hits Upper Limit Price
[Asia Economy Reporter Ji Yeon-jin] KR Motors' stock price surged to the upper limit on the 8th following news that it became the largest shareholder of electric vehicle research and development company Green Mobility.
KR Motors rose 29.82% from the start of trading on the day, reaching 114.5 billion KRW. Earlier, the company announced that it had become the largest shareholder of Green Mobility, a leading company in electric vehicle research, development, and production, through acquiring its shares.
Green Mobility was established in 2012. In December 2016, it was designated as the first domestic company to participate in the Ministry of Environment's electric two-wheeler subsidy program. The company possesses differentiated design technology in the electric mobility sector, vehicle design and analysis technology, IoT·ICT convergence, web·app-based social platforms, and vehicle management software capabilities. It holds 28 intellectual property rights, including 6 patents. According to the company, its technology is highly regarded in the electric two-wheeler, electric three-wheeler, ultra-small four-wheeler, and autonomous delivery vehicle industries. It is a promising company with shareholders and investors such as DGIST (Daegu Gyeongbuk Institute of Science and Technology), Samsung Venture Investment, POSCO Technology Investment, and the Small and Medium Business Corporation.
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KR Motors has a diverse lineup of internal combustion engine two-wheelers ranging from 50cc to 850cc. Designated as a national project participant for electric two-wheeler development since 2009, it was the first in Korea to mass-produce electric two-wheelers and supply them to government offices and local governments. It has secured over 1,100 distribution networks nationwide as well as overseas clients in Europe, the United States, Southeast Asia, and South America.
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