Samsung SDI spends $1.3 billion on new battery factory in Malaysia
Samsung SDI, the battery and electronic materials manufacturing unit of South Korean conglomerate Samsung Group, will build a second battery plant in Malaysia to boost production of cylinder-type cells used for electric vehicles and electronics devices.
The company will spend 1.7 trillion won ($1.3 billion) on the plant, the company said in a statement on July 21, adding that mass production would start in 2024.
The new plant will be a “starting point” for Samsung SDI to become a leader in the global battery market by 2030, the company’s chief executive officer Yoonho Choi said at the groundbreaking ceremony in the city of Seremban some 60 kilometers south of Kuala Lumpur.
Sixth on the world market for batteries
Samsung SDI has had a five per cent share of the global battery market this year through June. That ranks it sixth behind market leader Contemporary Amperex Technology from China with 34 per cent and South Korea’s LG Energy Solution at 14 per cent, according to Seoul-based market research and consulting firm SNE Research.
According to Samsung SDI’s statement, the global cylindrical battery market is forecast to grow from 10.17 billion cells in 2022 to 15.11 billion in 2027 annually with an annual average growth rate of eight per cent as demand expands for usage in electrical tools, micromobility devices, electric vehicles and energy storage systems.
Top car makers among clients
In addition to Malaysia, Samsung SDI has production sites in South Korea, China, Vietnam, the US, Hungary and Austria. The company’s clients include car makers BMW, Ford Motor, Volkswagen, Stellantis and Hyundai, among others.
In May, Samsung SDI announced plans to build its first US battery plant, a $2.5 billion factory in Indiana, in partnership with Stellantis.
Samsung SDI, the battery and electronic materials manufacturing unit of South Korean conglomerate Samsung Group, will build a second battery plant in Malaysia to boost production of cylinder-type cells used for electric vehicles and electronics devices. The company will spend 1.7 trillion won ($1.3 billion) on the plant, the company said in a statement on July 21, adding that mass production would start in 2024. The new plant will be a “starting point” for Samsung SDI to become a leader in the global battery market by 2030, the company’s chief executive officer Yoonho Choi said at the groundbreaking ceremony in...
Samsung SDI, the battery and electronic materials manufacturing unit of South Korean conglomerate Samsung Group, will build a second battery plant in Malaysia to boost production of cylinder-type cells used for electric vehicles and electronics devices.
The company will spend 1.7 trillion won ($1.3 billion) on the plant, the company said in a statement on July 21, adding that mass production would start in 2024.
The new plant will be a “starting point” for Samsung SDI to become a leader in the global battery market by 2030, the company’s chief executive officer Yoonho Choi said at the groundbreaking ceremony in the city of Seremban some 60 kilometers south of Kuala Lumpur.
Sixth on the world market for batteries
Samsung SDI has had a five per cent share of the global battery market this year through June. That ranks it sixth behind market leader Contemporary Amperex Technology from China with 34 per cent and South Korea’s LG Energy Solution at 14 per cent, according to Seoul-based market research and consulting firm SNE Research.
According to Samsung SDI’s statement, the global cylindrical battery market is forecast to grow from 10.17 billion cells in 2022 to 15.11 billion in 2027 annually with an annual average growth rate of eight per cent as demand expands for usage in electrical tools, micromobility devices, electric vehicles and energy storage systems.
Top car makers among clients
In addition to Malaysia, Samsung SDI has production sites in South Korea, China, Vietnam, the US, Hungary and Austria. The company’s clients include car makers BMW, Ford Motor, Volkswagen, Stellantis and Hyundai, among others.
In May, Samsung SDI announced plans to build its first US battery plant, a $2.5 billion factory in Indiana, in partnership with Stellantis.
