Rising EV adoption bodes well for Pentamaster

PETALING JAYA: Philip Research is bullish about the prospects of Pentamaster Corp Bhd based on rising global demand for electric vehicle (EV) powered by silicon carbide (SiC) batteries and advancements in automotive technology.

Quoting Mordor Intelligence, the research house said the automotive semiconductor market is projected to grow at a compound annual growth rate (CAGR) of 14%, from US$71.6bil to US$140.5bil by 2028, with the Asia-Pacific region in particular expected to experience rapid growth driven by increasing car production, collaborations between automakers and semiconductor producers, as well as a surge in EV demand.