[Featured Stock] Estrafic to Expand Electric Vehicle Chargers Sevenfold... Highlighting Collaboration with Hyundai Motor Company

[Asia Economy Reporter Yoo Hyun-seok] As the market for electric vehicle charger installation is expected to grow, Estraffic's stock price is showing strength.

As of 10:47 AM on the 31st, Estraffic was trading at 9,400 KRW, up 13.94% (1,150 KRW) compared to the previous trading day.

Newly permitted apartment buildings must install electric vehicle chargers at a scale of at least 5% of parking spaces. Existing apartments must secure at least 2%. Currently, the mandatory installation rate for new facilities is 0.5%, and there is no mandatory installation rate for existing facilities. The government announced last month that it plans to expand the number of electric vehicle chargers from the current level of 72,000 units to over 500,000 units by 2025.

Estraffic holds references for building road traffic systems, railway traffic systems, and toll collection systems in various countries around the world. Recently, Estraffic has been providing electric vehicle charging services in collaboration with Hyundai Motor Group. In March, it was selected as a specialized service provider for Hyundai Motor's electric vehicle membership, and recently it was also chosen as a partner for Kia Motors' electric vehicle purchase customer specialized program, 'Kia EV Members.' Through this, membership services can be provided to customers who purchase Hyundai and Kia vehicles such as the 'Ioniq 5' and 'EV6.'

Estraffic has begun full-scale development of the next-generation model of its integrated electric vehicle charging management platform ‘SS Charger,’ called the ‘RE100-type Charging Solution’ technology. On the 26th, Estraffic signed a business agreement with Haezoom to develop an ‘ESS + Charging Solution and Smart Power Demand Management Service Model.’ This agreement is part of securing future charging solutions following the exclusive supply of ‘electric vehicle charging roaming services’ to new EV car buyers from domestic automakers, aimed at responding to the rapidly increasing power demand of chargers.

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