[Featured Stock] Powerlogics Rises 4% on Expectations of Samsung and LG Entering the Used Battery Industry

[Asia Economy Reporter Minji Lee] Powerlogics is showing an upward trend during trading hours. This follows news that Samsung is pursuing the used battery industry after Tesla.

At 9:35 a.m. on the 9th, Powerlogics was trading at 7,370 KRW, up 4.99% from the previous trading day. The stock price even surged to 7,440 KRW during the session.

The positive reflection on the stock price comes from news that companies within the battery value chain, such as Samsung, LG, and POSCO, are entering the used battery business at the group level. Tesla, a global electric vehicle manufacturer, has already announced plans to introduce battery recycling facilities at all its factories. The global electric vehicle used battery market size is expected to expand from 1.65 trillion KRW in 2019 to up to 600 trillion KRW by 2050.

Powerlogics supplies battery pack protection circuits (PCM) and battery management systems (BMS), which are core components of secondary batteries. Since 2019, it has been producing and commercializing energy storage system (ESS) products using electric vehicle used batteries in collaboration with Hyundai Motor Group.