EVs Poised to Force Change Across Stamping Industry

EVs Poised to Force Change Across Stamping Industry
1. October 2020

Troy, MI (October 1, 2020) – STAMPING Journal and SIMPAC America, North American subsidiary of South Korea’s SIMPAC Inc., inform readers about the batteries, stamped parts, and press equipment needed to produce electric vehicles within the article, “EVs are poised to force change across stamping industry.”

“Simply put, as the market becomes more cost-friendly, and Millennials and Generation Z account for a greater purchasing power, the demand for EVs will increase significantly – despite common speculation,” explains Stephan Robertson, General Manager/VP of Sales & Operations at SIMPAC America.

Read the full article here to discover new EV market insights and determine the effectiveness and profitability of purchasing cold, hot, or specialty presses for the production of EV parts.

For media inquiries, please contact jaime@simpac.co.kr.

SIMPAC America Co. Ltd.

SIMPAC America is the North American division of SIMPAC Inc.; SIMPAC Inc. is renowned for its two divisions, “Presses” (forming systems) and “Metals” (ferroalloy manufacturing), while SIMPAC Industries is prominent in foundry products, industrial machinery, and component production. Both SIMPAC Inc. and SIMPAC Industries are owned by South Korea's SIMPAC Group, under the umbrella of SIMPAC Holdings.

Founded in 1973, SIMPAC holds almost 50% of the market share in its home market of South Korea. Since 2004, over 10 sales and service branches were established in Asia, Europe, the United States and Mexico – marking the company's footprint as a global leader of metal forming technology. With almost 700 employees, SIMPAC Group posted sales close to $540MM USD (480MM Euros) in 2018.

SIMPAC ensures time and cost-efficient production of high-quality, sophisticated products with its extensive production capabilities and state-of-the art machine park. Competitive advantages of SIMPAC's press systems, manufactured exclusively at the company's South Korean plants, include continuous improvements derived from insights of global markets and value-added manufacturing concepts pertaining to SIMPAC Group.

SIMPAC's wide product range includes mechanical, servo, and hydraulic presses along with tandem lines and automation solutions. Customers are acquired from various branches of the metalworking industry (i.e. automotive manufacturers and tier suppliers, home appliances and household goods, furniture and electronics industries, and the military & aerospace industry).