Tuesday, May 30, 2017

Samsung SDI expands presence in Europe with new battery plant in Hungary

In an effort to expand the presence of Samsung SDI in Europe, Samsung has finished turning a former production line for plasma display panels in Hungary into a battery plant for electric vehicles.

According to The Korea Herald, Samsung SDI plans to use the plant in Hungary as “a base to cater to the growing demand for electric vehicles [in the region], and produce a synergy effect with its plants in Xian, China, and Ulsan in Korea.”

At a completion ceremony held on Monday, Hungarian Prime Minister Viktor Orban publicly thanked Samsung for investing in Goed, the city where the plant is located, and assured the firm that the government is supportive of its business.

“For the first time, the state-of-the-art technology of Samsung SDI will be applied to batteries to be made in this plant in Hungary,” said Jun Young-hyun, head of Samsung SDI. “Batteries are one of the most important parts supplied to global car makers.

“I expect the plant to contribute to the growth of the European electric vehicle market.”