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Samsung SDI, Volvo Join Hands to Develop Battery Packs for Electric Trucks

Samsung SDI, Volvo Join Hands to Develop Battery Packs for Electric Trucks

SEOUL, Jul. 18 (Korea Bizwire) — Samsung SDI Co, a major electric vehicle battery maker, will join hands with Volvo Group to develop battery packs for electric trucks, the company said Thursday. In a strategic alliance with Sweden-based Volvo Group, one of the world’s largest manufacturers of commercial vehicles, Samsung SDI will provide battery cells [...]

Samsung SDI Eyes Overseas ESS Market amid Tepid Domestic Demand

Samsung SDI Eyes Overseas ESS Market amid Tepid Domestic Demand

SEOUL, May 16 (Korea Bizwire) — Samsung SDI Co. said Thursday it launched high-capacity energy storage systems (ESS) to expand its presence in the global market amid weak domestic demand over safety issues. The battery-making unit of Samsung Electronics Co. said it showcased its latest ESS technologies at ees Europe 2019, the world’s largest ESS [...]

S. Korean Rechargeable Battery Producers Focusing on Different Markets

S. Korean Rechargeable Battery Producers Focusing on Different Markets

SEOUL, Feb. 6 (Korea Bizwire) — South Korea’s top two leading rechargeable battery producers are focusing on different markets as they strive to expand their global presence in this key industry, market watchers said Wednesday. LG Chem Ltd. and Samsung SDI Co. have been moving in different directions as the worldwide market for high-capacity batteries [...]

S. Korean EV Battery Makers Spend Big to Capture Growing Market

S. Korean EV Battery Makers Spend Big to Capture Growing Market

SEOUL, Jan. 10 (Korea Bizwire) – South Korean electric car battery makers such as LG Chem Ltd. are jacking up their investment to strengthen their standing in the global market, industry sources said Thursday. Late last year, LG Chem, the country’s leading electric vehicle (EV) battery manufacturer, announced investments totaling 3 trillion won (US$2.67 billion). [...]

POSCO-Samsung SDI Consortium to Build Cathode Plant in Chile

POSCO-Samsung SDI Consortium to Build Cathode Plant in Chile

SEOUL, Mar. 12 (Korea Bizwire) — A South Korean consortium made up of steelmaker POSCO and battery maker Samsung SDI Co. will invest 57.5 billion won (US$54 million) to build a cathode plant in Chile by 2021, POSCO said Sunday. The POSCO-Samsung SDI consortium beat 12 companies from seven countries to secure the Chilean project, [...]

Chinese Authorities Still Giving S. Korean Electric Car Batteries the Cold Shoulder

Chinese Authorities Still Giving S. Korean Electric Car Batteries the Cold Shoulder

SEOUL, Jan. 4 (Korea Bizwire) — Despite the agreement between the Chinese and South Korean governments made last October to resume normal ties, it appears domestic electric car battery manufacturers are still feeling the brunt of China’s ill feeling, as the Chinese government once again excluded EVs equipped with South Korean batteries from its list [...]

In China, No Subsidies for EVs with S. Korean Batteries

In China, No Subsidies for EVs with S. Korean Batteries

BEIJING, Nov. 3 (Korea Bizwire) – The Chinese government has once again omitted all electric car models equipped with South Korean-manufactured batteries from its list of vehicles eligible for subsidies. Last June, applications by Samsung SDI and LG Chemical for their products to be quality-tested were rejected by Chinese authorities. Both companies have continued to [...]

Shares in South Korean Companies Tumble Following Rumors of iPhone X Delayed Release

Shares in South Korean Companies Tumble Following Rumors of iPhone X Delayed Release

SEOUL, Oct. 20 (Korea Bizwire) – Foreign speculation that the iPhone X release may be delayed lowered the stock value of South Korean parts suppliers LG Innotek, Samsung SDI and Samsung Electro-Mechanics on October 19, according to industry experts. The share prices of each of the companies dropped below their respective valuations on September 13, [...]