[Featured Stock] Sinjin SM Rises on Cooperation Expectations with S-Plus Comtec

The stock price of Sinjin SM has been strong for two consecutive days. This appears to be influenced by the government’s full-scale establishment of comprehensive measures to calm the spread of 'electric vehicle phobia.' Last year, Sinjin SM and S-Plus Comtech jointly invested to establish Sinjin Materials. S-Plus Comtech, a composite materials developer, has developed flame-retardant and insulation sheets to delay thermal runaway in automobile batteries.

As of 9:31 a.m. on the 13th, Sinjin SM is trading at 3,600 won, up 24.57% from the previous day. Following a 17% increase the day before, it continues its sharp rise for the second day.

S-Plus Comtech manufactured the sheets in a type that can be applied between cells to secure time for driver evacuation and fire suppression in case of fire in electric vehicle batteries. With a thickness of only 1.2 mm, it can also be applied to modules and battery packs.

The company explained that the main causes of electric vehicle fires are battery impact or overcharging, and that fire suppression is difficult due to thermal runaway caused by a rapid rise in internal temperature during electric vehicle battery fires. As battery capacity and quantity increase to improve electric vehicle fuel efficiency, the need for safety devices to delay battery thermal runaway has also grown.