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). [...]
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, [...]
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 [...]
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 [...]
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, [...]
SEOUL, Jul. 4 (Korea Bizwire) — South Korea’s two leading battery manufacturers are racing to develop a new type of smartphone power source that can significantly improve safety, industry sources said Tuesday. According to industry watchers, Samsung SDI Co. and LG Chem Ltd. are currently seeking to commercialize solid-state batteries, which use solid-type electrolytes. The [...]
SEOUL, Mar. 30 (Korea Bizwire) — South Korea’s Samsung SDI Co. will supply its electric-vehicle batteries to Volkswagen’s new 2017 e-Golf, an industry source said Wednesday. “The new e-Golf equipped with a Samsung battery will go on sale in global markets this spring,” the source told Yonhap News Agency. Samsung SDI and LG Chem Ltd. [...]
SEOUL, Sept. 6 (Korea Bizwire) – Samsung Electronics may be praised for its swift decision to recall faulty Galaxy Note 7 phablets, but its affiliate Samsung SDI (SSDI), which was responsible for the production of some of the defective batteries, is facing a crisis. According to industry watchers, SSDI has tentatively halted its supply of [...]
SEOUL, Aug. 31 (Korea Bizwire) – South Korea’s Samsung SDI Co. said Tuesday it will build an electric vehicle (EV) battery factory in Hungary, with the aim of making the new plant a European hub to supply EV batteries to automakers. Samsung SDI said it will spend about 400 billion won (US$357.7 million) on the [...]
SEOUL, April 14 (Korea Bizwire) – Samsung SDI Co., a major chemical unit under the country’s top conglomerate Samsung, said Thursday that it plans to spend around 1 trillion won (US$875 million) this year on beefing up its electric vehicle (EV) battery business. Samsung SDI said it plans to spend 975 billion won this year [...]