RIYADH: South Korean SK Bioscience Company has topped the list of the world’s best-performing IPO in 2021 after raising more than $1 billion. The biopharmaceutical firm, which is a local COVID-19 vaccine production partner with AstraZeneca, led a ranking dominated by listings from its home country, according to an analysis by Bloomberg. The IPO raised $1.3 billion for SK
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The global automotive traction motor market is projected to grow at a CAGR of 33.7% from USD 4.1 billion in 2021 to USD 17.3 billion by 2026. Factors such as supporting government policies launch of new EV models, and advanced motor designs will drive the automotive traction motor market.
The electric vehicle industry has rapidly evolved with ongoing developments in design, features, engineering, and electric motor technologies. With the increasing stringency of government mandates regarding emissions caused by vehicles, the automotive industry is focusing on efficiency, emission-free propulsion, and innovative technologies. The high predicted growth of electric vehicles due to government mandates and global presence of major OEMs and Tier I suppliers is expected to drive the market.