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Samsung SDI Q1 Net More than Doubles on Strong Battery Sales

Samsung SDI Q1 Net More than Doubles on Strong Battery Sales

SEOUL, April 28 (Korea Bizwire) — Samsung SDI Co. said Thursday its first-quarter net profit more than doubled from a year earlier on the back of strong sales in mid-to-large battery and premium electric vehicle battery products. Net income came to 362.7 billion won (US$286.6 million) in the January-March period, compared with a net profit [...]

Samsung SDI on Lookout as Rivals Begin Race for Oversea Production Facilities

Samsung SDI on Lookout as Rivals Begin Race for Oversea Production Facilities

SEOUL, March 29 (Korea Bizwire) — South Korean battery makers LG Energy Solution Ltd. and SK On Co. are stepping up to expand production facilities overseas. Samsung SDI, on the other hand, is still on a cautious lookout. Unlike the other two companies, Samsung SDI Co. has yet to unveil its current production capabilities and [...]

S. Korean Battery Makers Tout Latest Technologies, Future Visions at Seoul Exhibition

S. Korean Battery Makers Tout Latest Technologies, Future Visions at Seoul Exhibition

SEOUL, March 17 (Korea Bizwire) — Major South Korean battery makers are showcasing their latest technologies and visions for future growth during an international battery exhibition in Seoul this week, the companies said Thursday. SK On Co., LG Energy Solution Ltd. and Samsung SDI Co. were among some 250 battery and battery parts manufacturers and [...]

Samsung SDI Q3 Net Income Jumps 74.7 pct on Robust EV Battery Sales

Samsung SDI Q3 Net Income Jumps 74.7 pct on Robust EV Battery Sales

SEOUL, Nov. 2 (Korea Bizwire) – Samsung SDI Co., a South Korean battery maker, said Tuesday its third-quarter net profit jumped 74.7 percent from a year earlier backed by robust sales in electric vehicle (EV) batteries. Net income reached 420.4 billion won (US$357.6 million) in the July-September period, compared with 240.6 billion won from a [...]

Chiefs of Samsung SDI, Stellantis Meet in Hungary Following U.S. Battery Plant Deal

Chiefs of Samsung SDI, Stellantis Meet in Hungary Following U.S. Battery Plant Deal

SEOUL, Oct. 27 (Korea Bizwire) — The chiefs of South Korean battery maker Samsung SDI Co. and global automaker Stallantis N.V. have met in Hungary, company officials said Wednesday, days after announcing a partnership to build an electric vehicle (EV) battery plant in the United States. The meeting between Samsung SDI CEO Jun Young-hyun and [...]

Samsung SDI to Set Up 1st EV Battery Plant in U.S. with Stellantis

Samsung SDI to Set Up 1st EV Battery Plant in U.S. with Stellantis

SEOUL, Oct. 22 (Korea Bizwire) — South Korean battery maker Samsung SDI Co. said Friday it will build its first electric vehicle (EV) battery plant in the United States with global carmaker Stellantis N.V., joining other local rivals’ moves to tap deeper into the region. The announcement confirms earlier reports that the two recently signed [...]

Samsung SDI Q2 Net Jumps Sixfold on Strong EV Battery Sales, Hints at U.S. Factory

Samsung SDI Q2 Net Jumps Sixfold on Strong EV Battery Sales, Hints at U.S. Factory

SEOUL, July 27 (Korea Bizwire) — South Korean battery maker Samsung SDI Co. said Tuesday its second-quarter earnings jumped nearly sixfold on solid demand for electric vehicle (EV) battery products, hinting at a new battery factory in the United States in the near future to meet growing demand in the world’s most important automobile market. [...]