Direct Drive forms partnership with South Korea’s Everybot
6731.HK
Robotics technology company Direct Drive Tech Ltd. (6731.HK) said on Tuesday that it has formed a strategic partnership with South Korean robotic mop maker Everybot Inc. (270660.KS) to jointly develop and market new products for the Korean market.
Under the three-year agreement, Everybot will also act as distributor for Direct Drive’s robot and actuator module product series in South Korea. Direct Drive said the move is part of its strategy to sell more of its products abroad.
Direct Drive’s stock rose 1.9% in morning trade at Hong Kong to close at HK$41.08 by the midday break. The stock has nearly doubled from its late September IPO price of HK$21.60.
By Doug Young
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