J.O., Establishment of Local Corporation in the U.S., Full-scale Entry into North American Market

J.O. Co., Ltd. ( CEO Kang Deuk-ju ) , a leading global carbon nanotube (CNT) company, announced on the 28th that it has completed the establishment of a local corporation in the United States and has begun full-scale entry into the North American market .

JEIO has established a local corporation , ‘JEIO AMERICA’, in the United States . This is JEIO’s first overseas corporation , and the company plans to establish a base in the global electric vehicle market through the U.S. corporation and lay the foundation for leading the global carbon nanotube market .

The global electric vehicle industry is a market that is expected to grow in the mid- to long-term despite the many uncertainties . In particular, the de-Chinaization of the electric vehicle and battery supply chain being promoted by the United States is expected to be an opportunity for domestic battery and secondary battery material companies .

As of the first quarter of this year, the US electric vehicle penetration rate was 11% , which is considered a market with very high potential compared to Europe (20%) and China (42%) , and the North American electric vehicle market grew by 6.6% compared to the same period last year . Accordingly, domestic battery companies are continuing to invest in the US, and the local production ratio of major electric vehicle companies is increasing due to the tax credit benefits of the Inflation Reduction Act (IRA) .

Through its US corporation, JEO plans to increase local responsiveness in the US market, which has high growth potential , and seek to expand business opportunities by strengthening its sales force . In particular, it plans to strengthen partnerships with major local electric vehicle companies in the US as well as domestic customers that have advanced into the local market .

Kang Deuk-ju, CEO of J.O, said, “ We are currently building various partnerships with many global secondary battery and electric vehicle companies, and in particular, there continues to be a high level of interest in single-wall carbon nanotubes .” He added, “ With the establishment of the U.S. corporation, we expect to further strengthen J.O’s technological prowess and market position in key global markets, including the U.S .. ”

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