DA Technology Signs 12.6 Billion KRW Contract to Supply Cylindrical Battery Equipment to Global Secondary Battery Companies

[Asia Economy Reporter Jang Hyowon] DA Technology announced on the 8th that it has signed a contract to supply cylindrical battery equipment worth 12.6 billion KRW to a domestic global secondary battery company.

Based on its technological capabilities from continuous research and development, DA Technology succeeded in securing additional large-scale battery equipment orders from a global secondary battery manufacturer following last year. As the demand for secondary batteries expands in earnest, the company will supply key equipment used in the cylindrical battery assembly lines at the overseas factories of the supplier. The contract period is from the 7th of this month until June 24, 2023. The most recent order for cylindrical battery equipment was in December last year, with an order size of 9.2 billion KRW.

With the expansion of domestic secondary battery companies' factories in the United States to supply batteries to American electric vehicle manufacturers gaining momentum, the order volume for cylindrical battery equipment is expected to increase significantly, potentially doubling in 2024.

DA Technology stated, "Following this order, we expect additional orders of similar scale in the near future," adding, "The order volume for cylindrical battery equipment this year is expected to expand to twice that of last year, establishing it as one of our core products alongside notching and stacking equipment."

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