[Market Focus] Secondary Battery Stocks Surge on Tesla Boost... L&F Up 10%

On July 11, secondary battery stocks surged across the board. This appears to be due to Tesla's announcement that it will expand its robotaxi service areas, which led to a nearly 5% jump in Tesla's share price.

As of 10:46 a.m. on the same day, shares of L&F were trading at 57,400 won on the Korea Exchange, up 10.17% from the previous trading day. L&F supplies cathode materials for Tesla's electric vehicles.

Other related stocks such as Ecopro Materials (up 7.43%), Posco Future M (up 7.43%), and Hansol Chemical (up 6.94%) were also showing strong gains.

At the same time on the KOSDAQ market, secondary battery-related stocks such as Innox (up 6.70%), Ecopro BM (up 4.24%), and Ecopro (up 3.97%) were also rising in tandem.

Earlier, Elon Musk, CEO of Tesla, announced on the social networking service X (formerly Twitter) that the company plans to expand its robotaxi service areas and equip Tesla vehicles with the artificial intelligence (AI) chatbot "Grok." As a result, on July 10 (local time), Tesla closed at $309.87 on the New York Stock Exchange, up $13.99 (4.73%) from the previous trading day.