[Hot Stock] Solus Advanced Materials Soars 15% on News of Supplying Copper Foil to Tesla
[Asia Economy Reporter Minji Lee] Solus Advanced Materials is showing a strong performance in the stock market on the 17th. This is analyzed to be due to the news that the company succeeded in supplying battery foil for secondary batteries to Tesla.
On this day, Solus Advanced Materials was traded at 67,100 KRW, up 15% compared to the previous trading day, at 9:22 AM. The company’s stock price surged to as high as 70,700 KRW during the session. In addition, Solus Advanced Materials 1 Preferred and Solus Advanced Materials 2 Preferred B also rose by 20.39% and 30%, respectively.
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Battery foil is a key material for electric vehicle batteries, a thin copper film applied to the anode part of secondary batteries, serving as a pathway for electric current. It is reported that Solus Advanced Materials has been negotiating with major electric vehicle manufacturers for the supply of battery foil for secondary batteries since the end of last year. As a result, the company succeeded in supplying battery foil to Tesla starting last month.
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