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Report of Tesla deal lifts Doosan Solus stocks
Doosan Solus stocks rose 6.7 percent from a day before to 49,400 won on Friday, following a news report that it is in talks with Tesla to supply copper foil for Tesla electric vehicles in Europe.
Doosan Group's material solutions unit is expected to sign an agreement on general terms and conditions with Tesla.
The parties would still have to agree on the size and length of the contract.
Doosan Solus is the only copper foil manufacturer in Europe, operating a plant in Hungary.
Last month, Doosan Solus announced that it would invest 270 billion won to boost the Hungary plant’s capacity from 10,000 metric tons to 25,000 tons by 2022.
Electric vehicle battery use is expected to soar globally from 303 gigawatt-hours this year to 1,270 gigawatt-hours in 2025. European EV battery use is expected to increase from 70 gigawatt-hours to 330 gigawatt-hours in the same period.
How well the copper foil bonds with the slurry of graphite coating determines the structural stability of the battery.
The copper foil also serves as a path through which electrons travel. With high heat conductivity, the copper foil is a channel through which a battery brings out heat generated from the inside.