[Market Focus] EV Advanced Materials Jumps 16% on News of Returns from Taiwanese Battery Investment

EV Advanced Materials is showing strong gains in early trading.

As of 9:04 a.m. on July 4, shares of EV Advanced Materials were trading at 1,850 won, up 16.65% (264 won) from the previous day. Investor sentiment was boosted by news after the previous day's market close that a Taiwanese battery company invested in by EV Advanced Materials is demonstrating solid growth in its performance.

EV Advanced Materials announced the previous day that the cumulative shipments of next-generation lithium ceramic batteries (LCB) from ProLogium Technology, a Taiwanese all-solid-state battery manufacturer, have surpassed 2.4 million units. Previously, in 2021, EV Advanced Materials became the first domestic company to invest in ProLogium.

Founded in 2006, ProLogium's lithium ceramic batteries are widely used in electric vehicles, wearable devices, automotive electronic systems, and industrial systems. The company reportedly holds more than 900 global patents, including pending applications. In May last year, ProLogium unveiled its first overseas R&D center in Paris-Saclay. In Dunkirk, France, the company plans to begin construction of a new gigafactory in 2026 and start mass production in 2028.