KCE Stock Surges 12% on U.S. Electric Vehicle Deal Talks
KCE Electronics stock jumped 12% after reports emerged of potential dealings with a U.S. electric vehicle company, though the Thai electronics maker said negotiations remain ongoing with no final agreement reached.
Pidhaan Ongkosit, CEO and Managing Director of KCE Electronics Public Company Limited, submitted a letter to the Stock Exchange of Thailand to clarify online social media reports regarding a possible business transaction with a company in the United States. KCE Electronics stated that it is currently in the process of conducting negotiations, but has not yet reached any conclusion. The company emphasized its commitment to conducting business under good governance and corporate control principles, and urged the public, investors, and stakeholders to consider information only from the company's official channels and verified sources to avoid misunderstandings from incomplete or inaccurate data. Earlier reports had suggested that KCE was conducting pilot production trials to supply printed circuit board components to Tesla, the global electric vehicle and artificial intelligence giant. At 14:25, KCE stock was trading at 66 baht, up 7.50 baht or 12.82 percent, with intraday highs of 66.50 baht and lows of 59.50 baht, trading more than 4.922 billion baht in value.
