Why Shares of Freyr Battery Are Charging Higher Today
Markets nudged north to start the trading session this morning, but there's a buying bonanza currently underway for electric-vehicle (EV) battery stock Freyr Battery (NYSE: FREY). The shares closed 3.4% higher on Wednesday after the company announced a new partnership, and it seems that enthusiasm is continuing. Plus, Goldman Sachs announced a bullish stance on the stock yesterday after the market closed, leaving investors to show their approval today.
As of 10:31 a.m. ET on Thursday, shares of Freyr are up 16.6%.
Freyr announced yesterday that it has selected Hana Technology to help with equipment and automation solutions regarding the development of the company's Customer Qualification Plant (CQP) in Norway. With final equipment deliveries expected by the end of 2022, Freyr expects to accelerate sample cell production at the CQP in the first quarter of 2023. Additionally, Freyr reported that Hana Technology will assist in the development of Freyr's planned gigafactories.
Source Fool.com
