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Samsung SDI plans to invest in the US looking at growing demands of EVs
According to the latest info, the South Korean battery maker Samsung SDI is considering investing in the United States to meet the growing demand for electric vehicles, suppressing speculation about possible cooperation with major car manufacturers.
Samsung‘s battery manufacturing arm was reviewing various ways to build a new battery factory in the US to provide potential customers but remain alert with its system despite rising market expectations.
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Stellantis, the world’s fourth car manufacturer, is considered a potential partner of Samsung SDI as it plans to build its own battery production facilities to accelerate its EV transformation.
Samsung SDI is well on its way to partnering with Stellantis as two of its Korean competitors have already set up joint ventures with American car manufacturers to build battery factories.
LG Energy has announced a joint venture with General Motors to build battery factories in Ohio and Tennessee, in addition to its Michigan plant, under its plans to invest more than $4.5 billion in the United States by 2025.
However, SK Innovation and Ford are expected to launch a joint venture to build a $5.3 billion US battery that is separate from the two SK factories built in Georgia.
Samsung SDI has battery cell plants in South Korea, Hungary, and China and is using the Michigan battery pack assembly line built-in 2018. The company supplies batteries to German carmaker BMW and Fiat, now part of the Stellantis family, and has secured a deal with American Rivian, sponsored by Amazon and Ford, with its electric car and SUVs.
EVs accounted for less than 2 percent of U.S. car sales last year, mostly from luxury products, but industry analysts predict sharp growth over the past decade as EVs surpassed the first adoption.
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