SEOUL, June 25 (Korea Bizwire) — Major South Korean battery makers are tipped to post strong quarterly profits in the second quarter, continuing the robust growth on the back of solid demand in North America and tax benefits from a new U.S. law on green energy, industry data showed Sunday. Top player LG Energy Solution [...]
SEOUL, June 13 (Korea Bizwire) — Samsung SDI Co. will build an electric vehicle (EV) battery manufacturing facility in Indiana in a joint venture with General Motors Co., the South Korean battery maker said Tuesday. The 2.65 million-square-meter plant is planned to go up in the New Carlisle area in the central U.S. state, according [...]
SEOUL, April 27 (Korea Bizwire) — Samsung SDI Co. said Thursday its first-quarter net profit rose 28 percent from a year earlier as surging demand for electric vehicle (EV) batteries gave a boost to the bottom line. Net income reached 464.5 billion won (US$347 million) in the January-March period, compared with 362.6 billion won the [...]
SEOUL, April 25 (Korea Bizwire) — Samsung SDI Co. said Tuesday it is pushing to build an electric vehicle (EV) battery manufacturing facility in the United States in a joint venture with General Motors Co. The South Korean battery maker unveiled the plan in a regulatory filing, under which the two companies have agreed to [...]
SEOUL, April 18 (Korea Bizwire) — South Korean battery maker Samsung SDI Co. said Tuesday it is presenting its latest electric vehicle (EV) battery products and technologies at a major auto show in China this week, including the high-nickel prismatic cell and a new cylindrical battery in a larger size. The prismatic P6 battery is [...]
SEOUL, March 21 (Korea Bizwire) — POSCO Future M Co., a leading South Korean battery components maker, said Tuesday it is building a new cathode plant in the country’s southeast to meet surging demand after its multibillion-dollar supply deal with Samsung SDI Co. The board recently approved the plan to spend 392 billion won (US$300 [...]
SEOUL, March 15 (Korea Bizwire) — Samsung SDI Co. has been in talks with General Motors Co. for a potential business collaboration, although no details have materialized yet, its chief said Wednesday. Choi Yoon-ho, president and CEO of the South Korean battery maker, made the comments after media speculation that the company will build a [...]
SEOUL, March 14 (Korea Bizwire) — Samsung SDI Co., a major South Korean battery maker, said Tuesday it will showcase two electric vehicle (EV) models made by BMW and Volvo with its nickel-rich batteries at this week’s battery show. On display at InterBattery 2023, due to kick off Wednesday at an exhibition center in southern [...]
SEOUL, Jan. 30 (Korea Bizwire) — POSCO Chemical Co. said Monday it has signed a largest-ever long-term contract to supply a key component used in electric vehicle (EV) battery cells to Samsung SDI Co. POSCO Chemical will supply high-nickel cathodes, consisting of lithium, nickel, cobalt and aluminum, to Samsung SDI, for a 10-year period starting [...]
SEOUL, Jan. 30 (Korea Bizwire) — South Korean battery maker Samsung SDI Co. said Monday it posted record-high profit in 2022, driven by solid demand for electric vehicle (EV) batteries and energy storage systems (ESS). Operating income reached 1.8 trillion won (US$1.46 billion) last year, up 69.4 percent from the previous year’s 1.06 trillion won, [...]