SEOUL, Aug. 28 (Korea Bizwire) — Samsung SDI Co., a South Korean battery maker, said Wednesday it has signed a formal deal with global automaker General Motors Co. to jointly build electric vehicle (EV) batteries in the U.S. state of Indiana. Under the deal, the two companies will invest a combined US$3.5 billion to build [...]
SEOUL, July 23 (Korea Bizwire) – LG Energy Solutions Ltd. (LGES) and Samsung SDI Co., South Korea’s two leading battery makers, said Tuesday they will diversify their product lineups to better compete with global rivals, particularly from China. LGES and Samsung SDI have focused on high-end lithium ion battery products, but they also need to [...]
SEOUL, Apr. 16 (Korea Bizwire) — Last year, all three major South Korean battery makers – LG Energy Solution, Samsung SDI, and SK On – secured positions within the top five in the global electric vehicle battery market, according to a recent report. According to SNE Research, an energy market research firm, the total electric vehicle [...]
SEOUL, Oct. 26 (Korea Bizwire) — Samsung SDI Co. said Thursday its third-quarter earnings slid 2.5 percent on-year amid decreased demand for energy storage system (ESS) products and pouch battery cells used in smartphones. Consolidated net profit came to 622.4 billion won (US$459.3 million) in the July-September period, compared with 638.2 billion won from a [...]
SEOUL, Oct. 23 (Korea Bizwire) — Samsung SDI Co., South Korea’s second-biggest car battery maker, said Monday it will supply batteries for Hyundai Motor Co.’s electric vehicles in a seven-year deal. Samsung SDI signed the deal to provide car batteries to Hyundai Motor’s vehicles to be built in Europe from 2026 through 2032, the company [...]
SEOUL, Oct. 11 (Korea Bizwire) –Samsung SDI Co., South Korea’s second-biggest car battery maker, said Wednesday it will build its second U.S. battery plant in Indiana jointly with Stellantis N.V. near the first plant under construction. Samsung SDI set up a 51:49 joint company named StarPlus Energy with Stellantis in May last year to [...]
SEOUL, Sept. 27 (Korea Bizwire) – Samsung SDI Co. will spend US$1.97 billion on its second battery manufacturing facility it is building in the United States jointly with Stellantis N.V., the South Korean battery maker said in a filing Wednesday. The disclosure came about two months after their U.S. venture, StarPlus Energy, announced a plan [...]
SEOUL, Aug. 10 (Korea Bizwire) — South Korean battery maker Samsung SDI Co. is venturing to expand the supply of anode-active materials produced with natural graphite in the North American market. The company recently entered a memorandum of understanding (MOU) with Australian graphite explorer Syrah Resources Ltd. to procure a supply of natural graphite active [...]
SEOUL, July 27 (Korea Bizwire) — Samsung SDI Co. said Thursday its second-quarter operating income rose 4.9 percent from a year earlier, buoyed by solid demand in its premium electric vehicle (EV) batteries. Operating profit reached 450.2 billion won (US$354.7 million) in the April-June period, compared with 429 billion won the previous year, the company [...]
SEOUL, July 24 (Korea Bizwire) — Samsung SDI Co. said Monday it plans to build a second battery manufacturing facility with Stellantis N.V. in the United States, in addition to the ongoing project for their first plant in Indiana. The two companies signed a memorandum of understanding for the envisioned second battery gigafactory, aiming to [...]