EV Advanced Materials Signs MOU with Biwon Group... "Expanding Electric Vehicle Related Business"

[Asia Economy Reporter Jang Hyowon] EV Advanced Materials (formerly Act), a KOSDAQ-listed company, announced on the 21st that it has signed a memorandum of understanding (MOU) with Biwon Group to expand its electric vehicle-related business and to review and jointly develop related projects.

Through this MOU, Biwon Group, which holds multiple patents including a power generation device using a brushless output brushless DC motor, and EV Advanced Materials, which possesses flexible printed circuit board (FPCB) technology, are expected to create synergy effects by combining their know-how to diversify their businesses.

Lee Sangwoo, Chairman of Biwon Group, stated, “Starting with this MOU, we will do our best to combine the expertise of both companies to develop a zero-charge, zero-emission vehicle called the dream car (NSSCB).”

A representative of EV Advanced Materials said, “We will do our best to ensure that the company’s ongoing business diversification and electric vehicle development projects achieve positive results.”

Meanwhile, EV Advanced Materials is nearing the completion of acquiring shares and management rights of Sehwa IMC, which possesses world-class technology, and announced that it has recommended a professional manager to become a global No. 1 tire mold specialized manufacturer.

This content was produced with the assistance of AI translation services.