EV push electrifying prospects for Frencken, Fu Yu and other parts makers

Singapore

TECH and electronics companies in the region can expect more manufacturing business from the automobile industry as car makers gain traction, fuelled by the growing interest in electric and autonomous vehicles.

Auto stocks fell when the pandemic first hit as the industry scaled back on orders amid weaker consumer demand. But shares have surged this year as smart vehicles and clean energy come into focus, with carmakers committing to pour more resources into electric and autonomous vehicle technology.