SEOUL, KOREA - On the news that the major electric car manufacturers, including Tesla Motors, BMW, and Nissan, began discussing a common charging standard, following the announcement by Tesla that it would offer access to its patents to other auto makers, the share prices of Korea's main automotive electric battery parts suppliers have shot up to the daily 15-percent limit on June 17. It was based on the expectations that the companies would benefit mightily from the opportunity to mass-produce same-standard batteries.

 

On the same day, the share price of Iljin Materials were closed at 11,100 won after hitting the daily upper ceiling. Iljin Materials supplies elecfoil, a material for electric batteries, to major battery makers such as Samsung SDI, LG Chem, and Panasonic. Woory Industrial, the company supplying parts to Tesla, also saw its shares closed at 13,300 won, hitting the daily limit. The shares of Korea Display System, an electric car charging device maker, were also closed at a daily limit price.

 

Yoon Hyuk-jin, senior analyst with Eugene Investment & Securities, said, "The three companies of Tesla, Nissan, and BMW claim 80 percent of the world's electric car market. Once they agree to a single charging standard, they will be able to save a lot to build the recharging station infrastructure." BMW's electric car "i3" has been sold 4,000 units in Europe and the United States since late last year until this May. Currently the electric car market is steadily expanded into Asian markets.

 

Earlier on June 12, Tesla CEO Elon Musk said it would allow other electric car makers to have access to its own electric car patents. On the 17th, Tesla's share price on the NASDAQ market rose 8.81 percent.