[Asia Economy Reporter Jang Hyowon] DA Technology is showing strong performance. The positive news that U.S. electric vehicle manufacturer Tesla recorded better-than-expected earnings has been interpreted as boosting expectations for increased orders due to improvements in the secondary battery industry.
As of 1:59 PM on the 27th, DA Technology is trading at 3,425 KRW, up 2.09% from the previous day.
The day before, Tesla announced revenue of $24.32 billion and earnings per share of $1.19. Both exceeded Wall Street estimates, and CEO Elon Musk presented a positive outlook on electric vehicle demand during the conference call following the earnings announcement.
Elon Musk mentioned that if there are no supply chain disruptions, Tesla could produce around 2 million vehicles this year. Following this, Tesla's stock price surged 11%.
DA Technology is a company primarily engaged in manufacturing secondary battery equipment. Its main focus is on the manufacturing and sales of notching equipment and folding equipment. It was the first in Korea to successfully apply mass production and is the only company domestically to hold patents and core technologies for high-speed notching equipment hardware and software.
As of the end of last year, DA Technology's order backlog exceeded 100 billion KRW, more than 2.5 times the level at the end of 2021. The company has set an order target of approximately 180 billion KRW for this year. Its major client is LG Energy Solution.
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