Korea’s EV battery trio, led by LG Chem, emerge as market’s top picks
Yang Byeong-Hun
Aug 06, 2020 (Gmt+09:00)
South Korea’s three electric-vehicle battery makers have become the local market’s top picks as their combined market capitalization nearly tripled in less than five months amid the coronavirus-caused economic slowdown.
Analysts say LG Chem Ltd., Samsung SDI Co. and SK Innovation Co. have now emerged as the country’s leading shares alongside chipmakers such as Samsung Electronics Co., driving the market out of a slump.
Shares of the three rechargeable battery makers have been hitting fresh record-highs in recent sessions on aggressive purchasing by investors on expectations for higher demand from automakers for use in electric vehicles once the global economy recovers from the COVID-19 lockdown.