[Featured Stock] DA Technology Rises on News of Entry into Rivian Used Battery Recycling Business

DA Technology is showing strong performance. It is interpreted to be influenced by the entry of its partner company, the U.S. electric vehicle manufacturer Rivian, into the used battery recycling business.

As of 10:16 AM on the 3rd, DA Technology is trading at 4,700 KRW, up 3.75% from the previous day.

According to foreign media reports on the 28th (local U.S. time), the U.S. electric vehicle company Rivian has started a used battery recycling business. Rivian plans to invest $10 million in Kentucky, USA, to establish a used battery recycling production facility. Rivian intends to gradually expand its investment and production capacity, and the Kentucky plant will promote electric hardware, drive units, and the accumulated used battery recycling business.

DA Technology was selected as a partner of Rivian in 2021 and received a purchase order (PO) for battery manufacturing process equipment last October, delivering pilot production equipment.

DA Technology, a company specializing in secondary battery automation equipment, has been promoting the used battery recycling business since 2021. The used battery market is mainly divided into the reuse market and the recycling market, and the used battery recycling market consists of battery disassembly and raw material extraction businesses. DA Technology is developing automated system technology that automatically disassembles and separates used battery packs and modules. It is known to plan market entry through joint technology development and demonstration research with battery recycling centers.

Meanwhile, Rivian was recently added to the U.S. Inflation Reduction Act (IRA) subsidy payment list, thanks to its collaboration with K-battery.