Large-scale parts production for domestic and foreign companies
Eco-friendly, high-efficiency BLDC, radar, etc.
Expects to expand due to steady increase in product orders
Accredited by nationally appo
Essys completed its third plant in Saemangeum, Gunsan, Jeollabuk-do in response to the increase in overseas orders and expanded its production capacity. It has also recently acquired accredited certifications for vehicle to everything (V2X) communication equipment from a nationally designated professional test and evaluation institution. Essys continues to its way solidify the No. 1 position in Korea in the V2X field.
Essys recently completed the third plant in Saemangeum in order to manage the received orders by 2025. Currently, the start-up and stabilization work for the third plant is in progress. It is expected that normal operation will take place in the near future since the plant has an automated production in place.
The third plant will produce parts for domestic and foreign global companies in a large-scale. The 3rd plant is expected to be expanded as orders are increasing. By increasing professional personnel in the Saemangeum area, Essys is focusing on stabilizing its production.
Essys is receiving more orders for new products such as eco-friendly and high-efficiency brushless DC electric motors (BLDCs). It will supply Hyundai Mobis with radars, advanced driver assistance systems (ADAS), and steering systems. Essys will supply Vietnamese Vinfast with MHU (Multimedia Head Gateway) parts and gateway, which is a communication connection part. MHU is a part that controls vehicle media.
Essys also received an order for 3G and Long Term Evolution (LTE) modems from a French telecommunication electronics company, Titan. It will supply US’ Motional with autonomous driving level 4 modems. It will also supply self-driving robotaxi mainboards and sensor cleaning controllers to global companies.
An official from Essys said, ”We expect to grow into a global company with the new Saemangeum production plant, and make the new plant a bridgehead for expanding direct global exports in the future.”
Essys has secured several domestically recognized certifications. It received the highest level of certification in the basic performance evaluation of V2X communication base stations commissioned by ITS Korea, which is an ITS performance evaluation agency designated by the Ministry of Land, Infrastructure and Transport. Essys received C-ITS certification from WAVE Korean communication base station, which is an essential certification when a parts company takes a government project.
The rapid sales growth of Essys is under the spotlight. Essys achieved remarkable sales growth compared to the previous year despite the prolonged shortage of automotive semiconductors. The company expects to exceed KRW 200 billion in annual sales for the first time this year. Essys recorded sales of KRW 120 billion last year. It plans to go public in 2024.
An official from Essys said, "We are continue to grow steadily as orders for parts for global companies are increasing, and become a global company.”
By Staff Reporter So-ra Park (srpark@etnews.com)