Kumho HT Reports 441% YoY Increase in Electric Vehicle BMS Performance in H1

Automotive electronics company Kumho HT announced on the 29th that its sales of electric vehicle Battery Management Systems (BMS) in the first half of this year reached 21.5 billion KRW, a rise of approximately 441% compared to the same period last year. Kumho HT's BMS product sales have already surpassed last year's annual performance within just six months, showing rapid growth. With the government recently strengthening measures to prevent electric vehicle fires, the application of BMS by automakers is expanding, accelerating performance growth.

BMS is a core system responsible for managing energy within the battery of electric vehicles, including controlling charging and discharging, and monitoring voltage and temperature. It continuously monitors voltage, current, temperature, and other factors, and immediately activates safety protocols when risks are detected to prevent accidents such as fires.

As incidents related to electric vehicle batteries have increased recently, the importance of BMS has become more prominent. Following an electric vehicle fire accident in an underground parking lot of an apartment complex in Incheon, the government announced the 'Electric Vehicle Fire Prevention Measures,' which include mandatory disclosure of battery manufacturer information. In response, automakers are proactively disclosing battery manufacturer information and expanding the application of BMS.

Kumho HT entered the electric vehicle BMS market last year by starting mass production of the ‘BMS PCB ASSY (Printed Circuit Board Assembly)’ product. The company explained that after recording sales of 15.8 billion KRW last year, orders have been continuously increasing as the number of vehicles applying BMS grows.

A Kumho HT official stated, “BMS is an essential electric vehicle component that can detect and respond early to the possibility of battery fires through advanced sensors and algorithms,” adding, “As the importance of BMS in electric vehicles increases, we have been continuously expanding BMS supply since we started deliveries last year, gaining recognition for our technology and quality.”

He continued, “With automakers significantly expanding BMS-applied vehicles starting this year, performance is expected to surge, and we aim to achieve sales exceeding 40 billion KRW this year,” adding, “Moreover, as electric vehicle fire incidents continue to occur domestically and internationally, the advancement of BMS is required, so through participation in this advancement, our BMS market share is expected to continuously increase.”

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