Cellumed is showing strong performance. This is interpreted as being influenced by expectations of a main contract related to electric two-wheelers and secondary battery batteries with BYD, the global No. 1 electric vehicle company.
As of 10:23 AM on the 18th, Cellumed is trading at 6,270 KRW, up 11.57% from the previous trading day.
Last December, Cellumed signed a Memorandum of Understanding (MOU) and a Non-Disclosure Agreement (NDA) with BYD regarding electric two-wheelers, replaceable secondary batteries, and battery storage systems.
Through the MOU and NDA, the two companies established a close cooperative relationship related to replaceable secondary batteries, and are currently in the process of coordinating detailed terms of the main contract and specifying cooperation matters.
At the end of last year, Cellumed imported BYD's electric two-wheeler 'Nerva' and has been conducting detailed performance verification together with its self-developed model 'K-Max'.
Cellumed recently succeeded in securing an initial investment of 5 billion KRW for its new secondary battery business. The company plans to use the investment funds as initial capital for the full-scale secondary battery business, including ▲permits and approvals ▲raw material costs ▲and the establishment of a replaceable battery platform.
With the trend toward eco-friendly electrification, the global electric two-wheeler market is expected to expand to a scale of 1 trillion KRW by 2027. As of 2021, the domestic electric two-wheeler market size was approximately 53.2 billion KRW, more than doubling from 25.5 billion KRW in 2019.
The government's electric two-wheeler transition policy is also accelerating, raising expectations for Cellumed's benefits from the expansion of the electric two-wheeler market. The Ministry of Environment is known to have set a subsidy budget of 32 billion KRW this year, a 789% increase compared to last year, aiming to supply 40,000 electric two-wheelers.
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