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 [...]
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 [...]
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 [...]
SEOUL, Oct. 21 (Korea Bizwire) – South Korean battery maker Samsung SDI Co. said Thursday it has began its test run of a cathode-producing factory, jointly set up with a local cathode manufacturer. The EcoPro EM factory, located in Pohang, 374 kilometers southeast of Seoul, will conduct the test run until the end of this [...]
SEOUL, Oct. 19 (Korea Bizwire) — South Korean battery maker Samsung SDI Co. has signed a deal with global carmaker Stellantis N.V. to set up a joint venture to produce electric vehicle (EV) batteries, industry sources said Tuesday. Samsung SDI’s deal came a day after its domestic rival, LG Energy Solution Ltd., announced the signing [...]
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. [...]
SEOUL, July 9 (Korea Bizwire) — South Korean battery maker Samsung SDI Co. is considering investment in the United States to meet growing demand for electric vehicles, industry sources said Friday, stoking speculation over potential partnership with major automakers. The battery making arm of Samsung Electronics Co. has been reviewing various options to build a [...]
SEOUL, July 4 (Korea Bizwire) — Samsung SDI Co.’s electric vehicle (EV) battery business is expected to have turned to operating profit for the first time in the second quarter on strong demand by global automakers, analysts said Sunday. Samsung SDI Co., the battery arm of Samsung Electronics Co., was forecast to have posted 3.4 [...]
SEOUL, April 27 (Korea Bizwire) — South Korean battery maker Samsung SDI Co. said Tuesday its first-quarter earnings jumped on a low base effect and solid demand for electric vehicle (EV) battery products. Its net profit reached 150 billion won (US$135 million) in the January-March period, up from 729 million won a year earlier, as [...]
SEOUL, April 13 (Korea Bizwire) — South Korean battery maker Samsung SDI Co. will supply battery cells for U.S. electric vehicle startup Rivian’s upcoming vehicles, the companies said Tuesday. RJ Scaringe of Rivian, backed by Amazon.com Inc. and Ford Motor Co., said in a statement Samsung SDI has been developing the battery cells for its [...]