[Featured Stock] LG Energy Solution Rises Alone on Tesla Battery Production News

[Asia Economy Reporter Kwon Jae-hee] On the 14th, while the KOSPI started lower, LG Energy Solution is showing a strong performance alone. This comes amid news that it will mass-produce batteries for the U.S. electric vehicle company Tesla.

As of 10:09 a.m. on the day, LG Energy Solution was trading at 427,000 KRW, up 2.89% compared to the previous trading day on the Korea Exchange.

It showed a downward trend in the early session but reversed to an upward trend.

The previous day, LG Energy Solution announced that it would invest 730 billion KRW in its Ochang plant in Korea to newly establish and expand a cylindrical battery production line.

Accordingly, LG Energy Solution will begin mass-producing cylindrical '4680' batteries to supply batteries starting from the second half of next year. This is the first time LG Energy Solution has revealed plans to build mass production facilities and production plans for the 4680 battery.

This content was produced with the assistance of AI translation services.