DA Technology Signs 46.7 Billion KRW Contract to Supply Secondary Battery Manufacturing Equipment to LG Electronics

[Asia Economy Reporter Jang Hyowon] DA Technology announced on the 23rd that it has signed a supply contract worth 46.7 billion KRW with LG Electronics for secondary battery assembly process equipment.

DA Technology will produce and deliver stacking equipment, which is secondary battery assembly process equipment, to LG Electronics from this month until March 2024, the contract period. This equipment is scheduled to be supplied to LG Energy Solution's overseas factories through LG Electronics, and in September, DA Technology also announced a supply contract for battery manufacturing equipment worth 6.2 billion KRW with LG Electronics.

DA Technology holds patents for this equipment and will exclusively supply it to domestic global battery manufacturers. The stacking equipment is known to have high competitiveness as it meets the takt time required by the customer, increasing production volume.

This order is the largest single contract this year, and large-scale equipment orders are expected to continue following the customer's plans to expand overseas factories, including in the United States.

A DA Technology official said, "We have been recognized for our equipment technology for high-quality cell production, including notching, stacking, and cylindrical assembly lines, leading to large-scale orders, and we are also promoting production capacity expansion. We are responding company-wide to ensure smooth equipment production and delivery as a priority."