[Featured Stock] EG Prepares LFP Mass Production with Korea's Top 3 Battery Companies... Highlights No.1 Global Market Share in Essential Materials↑

EG is showing strong performance. This is interpreted as being influenced by news that three domestic battery companies are currently in the preparation stage for mass production of lithium iron phosphate (LFP) batteries.

As of 2:05 PM on the 21st, EG is trading at 8,270 KRW, up 5.75% compared to the previous day.

According to the industry, as issues regarding electric vehicle battery fire accidents have grown recently, LFP batteries, which are relatively more stable and affordable than nickel cobalt manganese (NCM) batteries, are gaining attention. LFP batteries are known to have a lower possibility of overcharging and overdischarging, resulting in less degradation of battery cells.

Currently, three domestic battery companies are reported to be in the preparation stage for mass production of LFP batteries. LG Energy Solution plans to supply 590,000 pouch LFP batteries to Renault Ampere by the end of 2025. SK On is expected to be capable of mass-producing LFP batteries for electric vehicles as early as 2026. Samsung SDI plans to manufacture LFP batteries for energy storage systems (ESS) in 2026.

Meanwhile, EG is a company that produces high-purity iron oxide used as a raw material for magnets in electric vehicles and home appliance motors. The high-purity iron oxide segment, with a purity of over 99.4%, holds the number one market share and the world's largest production scale of iron oxide.

This content was produced with the assistance of AI translation services.