The stock price of DAEJIN ADVANCED MATERIALS, a corporation specializing in materials for secondary battery processes, is showing strength in the early part of the trading day. It appears that buying interest has surged following news that the Chinese electric vehicle corporation BYD plans to release a battery system capable of traveling 400 km with a five-minute charge. DAEJIN ADVANCED MATERIALS supplies CNT conductive materials to BYD.
As of 9:58 a.m. on the 19th, DAEJIN ADVANCED MATERIALS shares are trading at 15,920 won on the KOSDAQ market, a rise of 24.96% (3,180 won) from the previous trading day. This increase seems to be buoyed by BYD unveiling its new battery system.
According to foreign news outlets, including Bloomberg News, on the 17th (local time), Chinese electric vehicle company BYD revealed the 'Super E-Platform' based on 1,000 volts (V) during a livestream event held in Shenzhen, China. This platform can charge with specifications of up to 1,000V and a maximum of 1,000A, allowing for charging power of up to 1,000 kilowatts (kW). This is twice as fast as Tesla's Supercharger.
Wang Chuanfu, chairman of BYD, noted, "Electric vehicles using this platform can travel 400 km with a five-minute charge."
Meanwhile, DAEJIN ADVANCED MATERIALS has entered into a joint venture agreement with Shangdong Dazhan Nano Materials in March 2023 to enter the new market for CNT conductive materials. Shangdong Dazhan Nano Materials is the world's second-largest CNT manufacturer, supplying CNT powder and conductive materials to companies such as BYD and CATL.