NTUTEC, a lithium-related stock, is showing strong performance amid a series of major contracts in the secondary battery industry. NTUTEC is the largest shareholder of G1W Energy.
As of 2:07 PM on the 7th, NTUTEC is trading at 695 KRW, up 14.12% compared to the previous trading day.
On the 8th (local time), Samsung SDI is scheduled to sign a memorandum of understanding (MOU) for battery cooperation with General Motors (GM) in the United States, and it is reported that the next automotive project with Volvo is also entering its final stages of collaboration.
Recently, LG Energy Solution announced the signing of an MOU to establish a battery joint venture with Ford, and in January, POSCO Chemical and Samsung SDI announced a cathode material supply contract worth 40 trillion KRW. Last month, L&F signed a cathode material supply contract worth 3.8 trillion KRW with Tesla.
Lithium is considered an essential raw material for secondary batteries. In January, G1W Energy announced that it had submitted a letter of intent to acquire brine mining rights in the South American 'Lithium Triangle,' which contains 65% of the world's lithium reserves. If G1W Energy acquires the brine mining rights, it will become a Korean company producing lithium following the POSCO Group.
Meanwhile, NTUTEC holds a 23.13% stake in G1W Energy, making it the largest shareholder. NTUTEC, together with G1W Energy, is promoting the construction of a pilot plant using direct lithium extraction technology at the Great Salt Lake in the United States.
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