[Special Stock] Newintek Rises on News of Hyundai Motor Group's First Domestic Electric Vehicle Factory Establishment

[Asia Economy Reporter Jang Hyowon] Newintec is showing strong performance following the news that Hyundai Motor Company will establish its first domestic electric vehicle factory in 29 years.

As of 2:17 PM on the 14th, Newintec is trading at 3,015 KRW, up 3.61% from the previous day.

The expectation that Hyundai Motor's new electric vehicle factory and the reconstruction of its production line will increase electric vehicle output appears to be influencing the stock price.

Newintec produces deposition films, the raw material for capacitors, as well as capacitors for home appliances and industrial use. Notably, in the electric vehicle capacitor sector, it is the only domestic company mass-producing 800-volt charging system capacitors (accumulators) and exclusively supplying them to Hyundai Motor and Kia. Newintec capacitors are applied to Hyundai Motor's dedicated electric vehicle platform (E-GMP).

Hyundai Motor's new electric vehicle factory is scheduled for completion in 2025, with construction starting next year in Ulsan. Models following Hyundai Motor's dedicated electric vehicle Ioniq 7 and all Genesis brand electric vehicles produced after 2025 will be manufactured at the Ulsan factory.

Additionally, Hyundai Motor is also promoting the reconstruction of its aging Ulsan plant. The establishment of the reconstructed electric vehicle factory domestically is expected to contribute to the development of the electric vehicle parts industry.

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