EcoPro BM shares were strong early on the 1st. Buying appears to have gathered on news that a cathode materials plant was completed in Debrecen, Hungary.
As of 9:43 a.m. on the day, EcoPro BM was trading at 159,400 won, up 9,500 won (6.34%) from the previous session on the KOSDAQ market. At the same time, EcoPro, the largest shareholder of EcoPro BM, was trading at 89,700 won, up 6.15%.
EcoPro said on Nov. 30 that it completed the Debrecen cathode materials plant in Hungary and will begin commercial production. EcoPro plans to actively target the local market by leveraging its responsiveness to in-region regulations through the Hungary plant.
As a result, expectations for the earnings of EcoPro and EcoPro BM appear to have grown, strengthening investor sentiment.
EcoPro BM can produce 54,000 tons of cathode materials annually at the Hungary plant. That is enough to supply batteries for about 600,000 electric vehicles.