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, [...]
SEOUL, Oct. 26 (Korea Bizwire) — Samsung SDI Co. said Wednesday it posted record high profit and sales in the third quarter on the back of strong demand for secondary batteries used in electric vehicles (EVs). Operating profit reached 565.9 billion won (US$396 million) in the July-September period, up 51.5 percent from 373.5 billion won [...]
SEOUL, Oct. 21 (Korea Bizwire) — EcoPro BM Co., a South Korean cathode producer, said Friday it has completed the construction of a new production plant that has the world’s largest output capacity. The new CAM7 plant in Pohang, about 370 kilometers southeast of Seoul, was built by its joint venture company formed with battery [...]
SEOUL, Sept. 20 (Korea Bizwire) — Samsung SDI Co. presented its latest battery technologies and products for commercial vehicles at an international exhibition taking place in Germany this week, the South Korean battery maker said Tuesday. The exhibits at the IAA Transportation Hannover 2022 include the high-nickel prismatic battery cells made with its proprietary silicon [...]
SEOUL, Aug. 26 (Korea Bizwire) — South Korean battery maker Samsung SDI Co. said Friday its management has met with a group of government officials from the U.S. state of Indiana in Seoul and discussed the ongoing battery joint venture with Stellantis N.V. Choi Yoon-ho, CEO of Samsung SDI, met with Indiana Gov. Eric Holcomb [...]
SEOUL, Aug. 16 (Korea Bizwire) — South Korean battery maker Samsung SDI Co. said Tuesday it has established research and development (R&D) centers in the United States and Germany in a bid to bolster its technological competitiveness through regional collaboration. It formally launched its first U.S. research institute in Boston on Monday (U.S. time), following [...]
SEOUL, July 29 (Korea Bizwire) — Samsung SDI Co. said Friday it posted record high operating income and sales in the second quarter, driven by strong sales of electric vehicle (EV) batteries. Operating income reached 429 billion won (US$330.4 million) in the April-June period, up 45.3 percent from a year earlier, the company said in [...]
SEOUL, May 25 (Korea Bizwire) — South Korean battery maker Samsung SDI Co. said Wednesday it is investing US$1.29 billion in an electric vehicle battery plant to be built in the U.S. state of Indiana under a joint venture with Stellantis N.V. Samsung SDI will own a 51 percent stake in the $2.5 billion joint [...]
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 [...]