Samsung SDI, a South Korean battery major, is set to expand its global presence by adding a second plant in Hungary and ramping up production capacity in Malaysia. More importantly, the company is likely to build a new EV battery factory in the US. Its CEO Choi Yoon-ho said: "We are considering diverse ways to beef up production capacity there."
Last year, Samsung SDI set up a JV with Stellantis in the US to produce battery cells and modules for EVs. "Adding to the joint venture with Stellantis, we think there needs to be our own production base in the US,” Choi was quoted as saying by the Korean media.
Samsung's JV with Stellantis, the maker of Jeep, Fiat and Peugeot vehicles, is to produce battery cells and modules for EVs. With the production set to start in the first half of 2025, the company aims to elevate the production capacity from 23 gigawatt-hours to 40 gigawatt-hours. The location of the battery plant is still to be finalised.
Samsung SDI's 'Gen.5 battery' can be found installed in new BMW iX vehicles, and the company is also in talks with the VW Group for supplying batteries to its EVs.
Samsung's PRiMX batteries
It may be recalled that Samsung SDI is marketing its current and future batteries for electric vehicles, among others, under the new brand ‘PRiMX’, which stands for "Prime Battery for Maximum Experience".
All battery types that Samsung SDI manufactures, including prismatic cells and round cells to upcoming solid state batteries, are offered under this brand.
Meanwhile, Samsung SDI has started building a pilot line for solid-state batteries. The 'S-Line' at Samsung SDI’s research and development centre in the South Korean city of Suwon will be about 6,500 square metres in size. Samsung has not provided any more information on the production capacity or when it will kick into production.
Samsung SDI ranks ranks sixth globally in the electric car battery market. It accounted for 4.5% of the global EV battery market last year, with sales growth of 60.7% year-on-year. South Korean companies LG Energy Solution (20.3%) and SK On (5.6%) are also ahead of Samsung SDI. The market leader is CATL with 32.6%
This week, major South Korean battery makers are showcasing their latest technologies and visions for future growth during an international battery exhibition in Seoul.
