Corporate Logo(source: lgensol.com)
Amid a bearish domestic stock market, secondary battery stocks have experienced notable declines. Tesla's 15% plunge in the U.S. stock market has dampened investor sentiment, which has also affected the secondary battery sector.
As of 9:15 AM on March 11, LG Energy Solution(373220) was trading at 341,000 won, down 2% from the previous day. POSCO Holdings(005490), POSCO Future M(003670), and Samsung SDI(006400) were also down by 2-3%. On the KOSDAQ market, Enchem(348370), EcoPro BM(247540), and EcoPro(086520), were also declining.
Tesla's sharp drop has created additional pressure on domestic secondary battery stocks. On March 10(local time), Tesla closed at 222.15 dollars, down 15.43% from the previous session. During intraday trading, the stock even fell to 220.66 dollars. This represents the largest one-day drop since September 8, 2020, when it dropped 21.06%. Tesla’s market capitalization lost approximately 190.2 trillion won in just one day.
While tech stocks in general have been sluggish due to concerns about tariffs and economic recession, Tesla's drop was particularly significant, driven by weak sales. In Germany, Tesla’s new car registrations from January to February dropped by about 70% compared to last year. Additionally, the number of Tesla vehicles shipped from the Shanghai factory in China decreased by 49% last month, marking the lowest monthly performance since July 2022.
Reflecting the drop in sales, UBS Group and Baird have lowered their sales forecast for Tesla's first-quarter performance. UBS stated, "While the launch of the new Tesla Model Y is expected to help, orders have slowed somewhat," and revised its first-quarter sales estimate down by 16% to 367,000 units.
Protests against Tesla CEO Elon Musk’s political activities have also intensified. A recent report revealed that four Cybertrucks caught fire simultaneously in a Seattle parking lot where Tesla's new cars were stored.
Baird analyst Ben Kallo explained, in an interview with CNBC, that a series of incidents targeting Tesla may deter potential buyers, negatively impacting Tesla's sales performance.
*[KOSPI]LG Energy Solution(373220) was established through a spin-off from LG Chem, and it develops, manufactures, and sells battery products used in electric vehicles(EVs), energy storage systems(ESS), and more. Market capitalization is 81 trillion 783 billion won(as of March 10, 2025, closing price).
*[KOSPI]POSCO Holdings(005490) is a holding company that establishes the overall growth strategy of the group. It is composed of six business sectors: steel, eco-friendly infrastructure(trade sector), eco-friendly infrastructure(construction sector), eco-friendly infrastructure(logistics, etc.), eco-friendly future materials sector and other sectors. The market capitalization is 25 trillion 654.9 billion won(as of March 10, 2025, closing price).
*[KOSPI]POSCO Future M(003670) is a subsidiary of the POSCO Group specializing in materials, including secondary battery materials, advanced chemical materials, and industrial basic materials. It manufactures and sells cathode and anode materials for secondary batteries, as well as carbon material raw materials and products, refractories, and lime products. Market capitalization is 11 trillion 425.8 billion won(as of March 10, 2025, closing price).
*[KOSPI]Samsung SDI(006400) is an affiliate of Samsung Electronics and consists of two business divisions: the Energy Solution division, which produces and sells lithium-ion secondary batteries in mid-to-large-sized or small-sized batteries, and the Electronic Materials division, which produces and sells semiconductor and display materials. The market capitalization is 14 trillion 853.1 billion won(as of March 10, 2025, closing price).
Corporate Logo(source: lgensol.com)
Amid a bearish domestic stock market, secondary battery stocks have experienced notable declines. Tesla's 15% plunge in the U.S. stock market has dampened investor sentiment, which has also affected the secondary battery sector.
As of 9:15 AM on March 11, LG Energy Solution(373220) was trading at 341,000 won, down 2% from the previous day. POSCO Holdings(005490), POSCO Future M(003670), and Samsung SDI(006400) were also down by 2-3%. On the KOSDAQ market, Enchem(348370), EcoPro BM(247540), and EcoPro(086520), were also declining.
Tesla's sharp drop has created additional pressure on domestic secondary battery stocks. On March 10(local time), Tesla closed at 222.15 dollars, down 15.43% from the previous session. During intraday trading, the stock even fell to 220.66 dollars. This represents the largest one-day drop since September 8, 2020, when it dropped 21.06%. Tesla’s market capitalization lost approximately 190.2 trillion won in just one day.
While tech stocks in general have been sluggish due to concerns about tariffs and economic recession, Tesla's drop was particularly significant, driven by weak sales. In Germany, Tesla’s new car registrations from January to February dropped by about 70% compared to last year. Additionally, the number of Tesla vehicles shipped from the Shanghai factory in China decreased by 49% last month, marking the lowest monthly performance since July 2022.
Reflecting the drop in sales, UBS Group and Baird have lowered their sales forecast for Tesla's first-quarter performance. UBS stated, "While the launch of the new Tesla Model Y is expected to help, orders have slowed somewhat," and revised its first-quarter sales estimate down by 16% to 367,000 units.
Protests against Tesla CEO Elon Musk’s political activities have also intensified. A recent report revealed that four Cybertrucks caught fire simultaneously in a Seattle parking lot where Tesla's new cars were stored.
Baird analyst Ben Kallo explained, in an interview with CNBC, that a series of incidents targeting Tesla may deter potential buyers, negatively impacting Tesla's sales performance.
*[KOSPI]LG Energy Solution(373220) was established through a spin-off from LG Chem, and it develops, manufactures, and sells battery products used in electric vehicles(EVs), energy storage systems(ESS), and more. Market capitalization is 81 trillion 783 billion won(as of March 10, 2025, closing price).
*[KOSPI]POSCO Holdings(005490) is a holding company that establishes the overall growth strategy of the group. It is composed of six business sectors: steel, eco-friendly infrastructure(trade sector), eco-friendly infrastructure(construction sector), eco-friendly infrastructure(logistics, etc.), eco-friendly future materials sector and other sectors. The market capitalization is 25 trillion 654.9 billion won(as of March 10, 2025, closing price).
*[KOSPI]POSCO Future M(003670) is a subsidiary of the POSCO Group specializing in materials, including secondary battery materials, advanced chemical materials, and industrial basic materials. It manufactures and sells cathode and anode materials for secondary batteries, as well as carbon material raw materials and products, refractories, and lime products. Market capitalization is 11 trillion 425.8 billion won(as of March 10, 2025, closing price).
*[KOSPI]Samsung SDI(006400) is an affiliate of Samsung Electronics and consists of two business divisions: the Energy Solution division, which produces and sells lithium-ion secondary batteries in mid-to-large-sized or small-sized batteries, and the Electronic Materials division, which produces and sells semiconductor and display materials. The market capitalization is 14 trillion 853.1 billion won(as of March 10, 2025, closing price).