Published 23 Feb.2021 09:44(KST)
[Asia Economy Reporter Hyungsoo Park] Research Alom forecasted on the 23rd that NVH Korea's performance will improve as it supplies battery module packs to Hyundai Motor's E-GMP platform. The target price was suggested at 7,200 KRW.
Researcher Doyoon Kim of Research Alom stated, "NVH Korea is supplying battery module packs to Hyundai Motor's E-GMP platform through NVH Battery System, newly established in September last year," adding, "They are responsible for the assembly process of battery module packs designed by Hyundai Mobis and Hyundai Motor, and are expected to supply 100,000 units annually."
He also said, "They supply battery module packs to Ioniq," and expressed expectations that "the business scope will expand to include the design of battery module packs during the process of installation on the E-GMP platform."
Research Alom predicted that Hyundai Motor and Kia Motors will record sales of 6.2 million units this year, a 16.3% increase compared to the previous year. NVH Korea is the market leader in NVH-related parts and headliner markets. It is expected to grow alongside Hyundai Motor Group through securing all NVH orders for five Genesis models.
Researcher Kim explained, "With the expansion of Kia Motors' production volume, orders from NVH Korea's India subsidiary are increasing, and the Czech subsidiary, selected as a supplier of electric vehicle parts to the Volkswagen Group, is also experiencing high growth." He added, "This year, they newly entered the battery module pack manufacturing business for E-GMP electric vehicles," and "It is expected that the business scope will expand through in-house design and development."
He also emphasized, "The grandson company Wonbang Tech is a manufacturer of cleanroom dry rooms for the semiconductor and display industries," stating that "dry room orders, essential for secondary battery production facilities, are expected to surge."
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