Feb 19, 2024
[SITE] 'ACE LAB Merger' Park Seung-beom, CEO of CONTROLWORKS, said "We will grow sales 10 times."
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"Our goal is to increase CONTROLWORKS sales by more than 10 times in 2028. We will become the leading mobility tech company in Korea."
Park Seung-beom, CEO of CONTROLWORKS, expressed his ambition after the merger of ACE LAB.
Control Works completed its merger with ACE LAB in December last year. Control Works validates core parts of electric vehicles with software. ACE LAB is a provider of autonomous driving systems, while CONTROLWORKS aims to become a mobility technology company through the merger with ACE LAB. The company aims to expand its business area, which was previously focused on electric vehicles, to self-driving.
The main products of CONTROLWORKS are equipment that verifies the performance of electric vehicle battery-related systems. Battery Management System (BMS) inspection equipment for electric vehicles is supplied to Hyundai Motor and Kia Motors.
Park plans to increase sales by more than 100 billion won, which is currently 10 times higher, in the wake of the merger between the two companies.
The plan is to expand global customers of CONTROLWORKS BMS inspection equipment and expand sales by strengthening the development of autonomous driving platforms based on Ace Lab and SW.
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CONTROLWORKS has secured the U.S. electric car maker Fisker as its customer. Fisker produces 250,000 electric vehicles a year in the U.S. through its own electric vehicle platform (FP28). Fisker's orders are expected to serve as an opportunity to expand orders for North American electric car customers. The number of electric car companies such as Fisker, Lucid, and Rivian is rapidly increasing in North America. Lucid Oe. Rivian is expanding its EV production in its own country.
Park also plans to strengthen targeting in the global autonomous driving market. To this end, the company will strengthen software development in the autonomous driving field.
Park is in charge of the human resources development division of the Korea Self-driving Association. The human resources development division is focused on securing outstanding human resources in the autonomous driving field.CONTROLWORKS also plans to expand recruitment of autonomous driving SW human resources to nurture professional human resources with development capabilities.
"CONTROLWORKS is a company that can handle both electric vehicles and autonomous driving," Park said. "We will secure additional human resources to develop various products." The company will also strengthen its overseas presence.CONTROLWORKS will prepare a bridgehead to enter European, Chinese and Southeast Asian markets this year.
"CONTROLWORKS will expand cooperation with global customers to expand sales in 2028," CEO Park said. "We will strengthen our development capabilities and business competitiveness as Korea's leading mobility technology company."
"The mobility market is changing rapidly," he said. "The two companies will be able to quickly respond to the global new market as they can achieve results in electric vehicles and autonomous driving through synergy."
Source: Kim Ji-woong, reporter of the electronic newspaper jw0316@etnews.com
URL : https://www.etnews.com/20240216000214