Tesla Supplier Simwon America Files for IPO — Update
By Josh Beckerman
Simwon America, which provides parts for Tesla, filed for an initial public offering.
The company expects to sell 1.5 million shares and expects stockholders to offer 1 million, with an expected price range of $18 to $22 each.
The Lathrop, Calif., company's indirect parent companies MS Autotech Co., Ltd. and Myoung Shin Industry Co., Ltd. are listed in Korea.
Simwon America is seeking a Nasdaq Global Market listing under symbol SWA.
The company focuses on "Body-in-White" components.
In the risk factor section of its IPO filing, Simwon America notes that "we currently derive substantially all of our revenue from Tesla." For the fiscal year ended June 30, 2025, sales to Tesla accounted for about 99.5% of total revenue.
For the year ended June 30, 2026, revenue was down 13% to $323.9 million as "growth in the electric vehicle market moderated compared to prior periods."
The company has a 277,208-square-foot assembly facility and 198,183-square-foot fabrication facility in Lathrop. It plans to use some IPO proceeds to buy a company on the East Coast to support expansion and for expansion initiatives targeting the Mexican and Canadian markets.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
October 09, 2026 13:44 ET (17:44 GMT)
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