[Featured Stock] Sejong Industrial Selected as Hyundai Motor Group Electric Vehicle Battery Pack Partner... Benefiting from Future Mobility Growth

[Asia Economy Reporter Yoo Hyun-seok] Sejong Industrial is expanding its gains. The news that it will supply BMA (Battery Module Assembly) for electric vehicles to Hyundai Motor Group appears to have influenced the stock price.

As of 3:13 PM on the 30th, Sejong Industrial was trading at 9,950 KRW, up 9.34% (850 KRW) compared to the previous trading day.

On the same day, an IT specialized media reported that Hyundai Motor Group selected a consortium of Sejong Industrial, Seoyon E-Hwa, and Deokyang Industry as manufacturers and producers of BMA for electric vehicles for its first-tier suppliers last week and signed a supply contract. This is Hyundai Motor's second time selecting a partner in the BMA field, following Sebang Battery in February. The battery volume that the consortium will supply to Hyundai Motor Group is known to be up to the equivalent of 200,000 electric vehicles annually.

The electric vehicle battery pack consists of two types: a general battery system completed with 29 modules and a long-range battery product with 42 modules. The consortium plans to establish a joint venture (JV) to strengthen expertise as a dedicated battery pack company. At least two production lines will be set up.

The battery pack factory is scheduled to start operations next year, producing large-capacity drive battery systems including modules and packs based on lithium-ion secondary batteries. The battery cells used will mainly be products from LG Energy Solution and SK Innovation.

As Hyundai Motor Group's electrification lineup and production volume gradually increase, it is encouraging structural improvement through orders of electrification parts such as battery systems from existing first-tier suppliers.

Sejong Industrial produces converters that purify exhaust gases and mufflers that reduce noise and vibration. Through its subsidiaries, it is also engaged in the 'metal separator plate' business for stacks, a core component of hydrogen fuel cell vehicles.

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