EcoPro, a South Korean battery materials holding company, said Monday that it had invested $11 million for a 9 percent share in Green Eco Nickel, an Indonesian nickel smelter operated by Chinese battery materials firm GEM, to expand the supply of nickel, a crucial raw material for lithium-ion battery production. The Green Eco Nickel smelter, situated on Sulawesi Island in Indonesia, boasts annual production of approx.
EcoPro Materials stock price soared during Tuesday s trading session, following its new addition to the MSCI Korea Index, which was announced earlier in the day.
As Tesla released a disappointing quarterly earnings report that largely missed its estimates on Wednesday afternoon (U.S. time), shockwaves rippled to many Korean stocks related to the secondary battery sector on Thursday s session.
SEOUL EcoPro Materials, a South Korean electric vehicle battery materials company, debuted on Seoul's main stock exchange on Friday, with its shares rising…