Samsung no longer interested in EV battery business in the US?

Samsung could shift its investment from the EV battery business in the US. The company plans to adjust its investment in ESS from EVs due to a sluggish market. The move comes after low demand for EVs, particularly bikes, and growing demand for ESS.

TheElec reports that Samsung eyeing the growing demand for ESS (energy storage systems) in the US. North America’s largest power company NextEra Energy could be awarding Samsung with a potential 1 trillion won ESS order.

Samsung is investing in converting its EV battery pack production line in Michigan, US. The electric bike battery pack line will be dismantled and converted for ESS use. The investment is expected to begin as early as the fourth quarter.

• The ESS battery pack line will be located in Factory 1, where a battery pack line for Harley-Davidson is currently in operation.
• Factory 2 primarily produces battery packs for Stellantis PHEVs, such as the Jeep Wrangler 4xe and Grand Cherokee 4xe.

The Korean tech giant is pursuing a 1 trillion won order for ESS batteries from NextEra Energy. The order is estimated to be around 5GWh. The company has started accelerating its penetration into the ESS market since last year with its Battery Box.