Tesla continued its record run on Wall Street as optimism surrounding its electric vehicle battery technology pushed the stock above $900 a share for the first time
POSCO Chemical Co Ltd , which recently signed a $1.6 billion deal to supply battery-making materials to LG Chem, rose 4.6%.Panasonic said on Monday it expects to stabilize profit at Tesla’s Gigafactory by next year, and that there is a lot of room to improve production efficiency for what is an EV’s most expensive component, accounting for about a third of total cost.
“When you look back, say two to three years ago, there were doubts about whether the EV era would arrive,” said analyst Kang Dong-jin at Hyundai Investment & Securities in Seoul.
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