[Market Focus] Samsung SDI Rises 6.57% on News of Tesla ESS Battery Supply

Samsung SDI's stock price is gaining momentum following news that the company will supply over 3 trillion won worth of batteries for energy storage systems (ESS) to Tesla in the United States over a period of three years.

As of 9:03 a.m. on November 4, Samsung SDI was trading at 348,500 won, up 21,500 won (6.57%) from the previous trading day.

On this day, Jung Kyunghee, a researcher at LS Securities, stated, "According to related reports, Tesla executives in charge visited Korea last week and reportedly reached an agreement with Samsung SDI on key issues regarding battery supply. The agreement is said to involve supplying around 10 GWh of batteries annually for at least three years. With a conservative estimate, this would result in approximately 640 billion won in additional annual sales."

In response to the Korea Exchange's request for a disclosure inquiry, Samsung SDI replied, "We are in discussions regarding the battery supply mentioned in the article, but nothing has been concretely decided yet."