Samsung Electro-Mechanics is seeing its stock rise on the 16th following news that it has entered into a parts supply contract with Chinese electric vehicle company BYD.
As of 9:17 a.m. on that day, Samsung Electro-Mechanics’ stock price is at 124,300 won, showing an increase of 4,600 won compared to the previous trading day. The rise rate is 3.84%.
According to the electronic components industry on the 15th, Samsung Electro-Mechanics has decided to supply multilayer ceramic capacitors (MLCC) to BYD on a large scale. MLCCs are electronic components that store or release electricity to protect circuits. Considering BYD's vehicle production volume, forecasts suggest that the quantity supplied by Samsung Electro-Mechanics could reach hundreds of billions of units.
BYD is the world's largest electric vehicle corporation, having recorded a market share of 23.6% in the electric vehicle market last year. Its vehicle production volume last year reached 4.2 million units, including electric and hybrid vehicles.