[Asia Economy Reporter Minji Lee] As the secondary battery industry shows signs of recovery, including a recent rise in the stock price of the US electric vehicle company Tesla, related stocks are also on the rise in the domestic stock market.
At 11:12 a.m. on the 17th, LG Chem was traded at 367,500 KRW, up 7.14% from the previous session. At the same time, Samsung SDI was traded at 296,000 KRW, up 9.23% from the previous session. In addition, Iljin Materials and EcoPro BM rose by 6.53% and 4.43%, respectively.
Secondary battery-related companies are expected to record high sales growth rates in the second half of the year due to improvements in supply and demand. Tesla's stock price surged about 32% from $562.29 to $745.21 over the past five trading days.
Junghwan Kim, a researcher at Korea Investment & Securities, said, “The proportion of electric vehicle sales in the UK, Germany, and France has increased from 1-2% last year to 4-7%, improving demand,” adding, “The resumption of production by European automakers is also positive for the secondary battery industry.”
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
