[Asia Economy Reporter Jang Hyowon] Naintech is showing strong performance. This is interpreted as a result of LG Energy Solution's announcement to invest 4 trillion KRW in battery production facilities for Tesla electric vehicles in the United States.
As of 10:10 AM on the 20th, Naintech is trading at 3,145 KRW, up 3.28% compared to the previous day.
The day before, LG Energy Solution announced that it signed an investment agreement with Chungbuk Province and Cheongju City to invest a total of 4 trillion KRW in the Ochang Industrial Complex from this year until 2026 and to hire about 1,800 new employees.
Industry insiders view LG Energy Solution's new and expanded production line investment as being aimed at Tesla. Earlier, when LG Energy Solution announced a 730 billion KRW investment plan for the Ochang plant in June, it stated that 580 billion KRW would be invested in the 4680 cylindrical battery production line. This current investment is an extension of that plan.
The 4680 cylindrical battery is a next-generation battery introduced by Tesla CEO Elon Musk at the 2020 'Battery Day' and is attracting attention from the global automotive industry, including Tesla.
Naintech began developing related equipment in response to the growth of the secondary battery market since 2017 and started supplying equipment to secondary battery manufacturers in earnest in 2019. The company gained attention as it supplied equipment exclusively to LG Chem even before LG Energy Solution was listed.
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