[Click eStock] "Data Analysis Suggests Weak Rebound Momentum for Secondary Battery Stocks"

Hana Securities evaluated on the 4th that it is difficult to find a rationale for the stock price rebound of secondary battery companies considering the June U.S. electric vehicle (EV) sales performance data. This opinion drew attention as it came amid the representative battery-related companies such as LG Energy Solution, Samsung SDI, and EcoPro BM hitting bottom and rebounding.

Ultium Cells Electric Vehicle Battery Pack

Kim Hyun-soo, an analyst at Hana Securities, stated in a report on the day, "The important GM's June EV sales volume for Ultium Cells, a joint venture between General Motors (GM) and LG Chem, decreased by 6% compared to May," and analyzed, "With June sales at 7,862 units, to achieve the annual target sales volume of over 200,000 units, an average of 27,000 units per month must be sold in the second half of the year." He added, "Tesla Model Y's June sales also decreased by 5% compared to June last year."

Analyst Kim explained, "Tesla's stock price rise is due to a surprise in energy storage system (ESS) installation performance," and "The ESS made by Tesla uses China's lithium iron phosphate (LFP) batteries." Tesla's ESS installation volume in the second quarter of this year was 9.4 GWh (gigawatt-hours), an increase of 154% compared to the first half of last year, and 135% compared to the previous quarter.

He predicted, "It is difficult to confirm sales volume increase data in the U.S. EV market, where Korean companies mainly supply secondary batteries," and "The driving force for the stock price rebound of domestic secondary battery companies or material companies will not be significant."