[Featured Stock] Samjin LND Expected to Discuss Cylindrical Battery with US Lucid-Samsung... Highlighted for Supplying 70% of Gaskets

Samjin L&D is showing strength. This is interpreted as being influenced by the prospect that Samsung Chairman Lee Jae-yong will soon meet with Lucid Motors in the United States to discuss the supply of cylindrical batteries.

As of 10:16 AM on the 24th, Samjin L&D is trading at 2,945 won, up 0.5% from the previous day.

According to industry sources the day before, Chairman Lee Jae-yong is expected to meet with Lucid Motors executives next month. Peter Rawlinson, CEO of Lucid Motors, is likely to discuss electric vehicle battery cooperation plans directly with Chairman Lee.

Lucid Motors is a U.S. electric vehicle company founded in 2007. It was listed on NASDAQ in 2021. Its main products are premium electric vehicles priced over 100 million won. The Saudi Public Investment Fund (PIF), led by Crown Prince Mohammed bin Salman Al Saud of Saudi Arabia, is the largest shareholder. In 2018, they signed a $1 billion investment agreement (approximately 1.1 trillion won at the time).

Chairman Lee is expected to discuss battery supply when meeting with Lucid Motors. Lucid Motors has used cylindrical batteries from Samsung SDI before. Currently, they mostly use products from LG Energy Solution, but that contract ends this year.

Meanwhile, Samjin L&D is known as a manufacturer of liquid crystal display (LCD) and secondary battery components, supplying about 70% of the gaskets that serve as caps for cylindrical secondary batteries to Samsung SDI. This is interpreted as the reason for the surge in buying interest.