Atom Invests in U.S. EV Platform Firm, Aiming for Synergy in Small Transformers

Atom, a specialized manufacturer of small transformers, is investing in a U.S.-based electric vehicle platform manufacturer and is seeking to directly enter the global electric vehicle value chain.

On October 17, Atom announced its decision to issue convertible bonds (CB) worth 4 billion KRW. The conversion price is set at 9,501 KRW, with a maturity of five years, a zero percent coupon rate, and a maturity interest rate of 2%.

Of the funds raised, 1.5 billion KRW will be used to invest in Company A, a U.S. electric vehicle platform manufacturer. The remaining funds will be allocated to repay and retire existing convertible bonds (2 billion KRW) and for operating capital (500 million KRW).

A company representative stated, "By repaying and retiring the existing convertible bonds early, we aim to resolve short-term overhang issues. At the same time, we plan to pursue various forms of technological collaboration through the investment in Company A."

Company A is a commercial electric vehicle specialist founded in 2021 by engineers formerly from Tesla and Rivian. It is the only commercial vehicle company that independently manufactures its own electric powertrain systems and began full-scale mass production at its California plant in April 2025. Company A is currently conducting a Series C funding round to increase production of its mid-sized electric vehicle platforms. Atom plans to participate in this funding round and explore potential avenues for collaboration.

The transformers produced by Atom play a crucial role in power conversion and the establishment of low-voltage systems within electric vehicles. In particular, Company A's proprietary modular battery packs are designed based on an 800V system, making high-efficiency and compact transformer technology essential.

Furthermore, as Company A develops its own powertrain systems and expands into hybrid models, the scope for applying Atom's transformer technology is expected to diversify even further.

A company representative commented, "This investment is a strategic decision for technological collaboration and market expansion. Through cooperation with Company A, we plan to elevate our core electric commercial vehicle component business to a global level."

Meanwhile, Atom is strengthening its partnerships with major finished vehicle OEMs to expand its presence in the electric and eco-friendly vehicle parts market. Through its subsidiary DST, the company is also expanding its industrial transformer and engine parts business.

This content was produced with the assistance of AI translation services.