Samsung to mass-produce EV batteries

WEB DESK: Samsung SDI, a prominent player in the electric vehicle (EV) battery sector, is ramping up its efforts to meet the surging demand for batteries driven by the growing popularity of electric vehicles.

In a strategic move, Samsung SDI is set to establish its own EV battery factory in the United States, marking its first fully-owned facility of this kind in the country.

This initiative follows Samsung SDI’s earlier investments, including a nearly $2 billion joint venture with Stellantis announced in 2022.

Under this partnership, the company secured a 51 per cent stake in the construction of a battery manufacturing plant located in Indiana. The anticipated annual production capacity of this venture is 34 gigawatt hours (GWh).

In addition to its joint ventures with Stellantis and GM in Indiana, Samsung SDI’s decision to build a standalone EV battery factory underscores its commitment to bolstering its presence in the market.

By establishing its independent facility, the company aims to enhance its competitiveness and serve a broader range of automotive clients beyond its existing joint ventures.

CEO Choi Yoon-ho stressed Samsung SDI’s dual strategy of forming joint ventures while simultaneously setting up its independent factory.

Looking ahead, Choi reiterated the company’s ambitious plan to commence mass production of solid-state batteries by 2027.

Samsung SDI has already initiated a pilot line for these advanced batteries in Suwon, with samples being provided to car manufacturers for evaluation.

In pursuit of its goal, Samsung SDI is focused on strengthening its core supply chain and securing production capabilities throughout this year.

These efforts are aimed at ensuring the company maintains a competitive edge in the market, particularly upon the release of its solid-state batteries.