Samsung SDI CEO and President Jun Young-hyun (far left) and Hungarian Prime Minister Viktor Orban (second from the left) are touring the electric vehicle battery plant in Hungary. [Photo provided by Samsung SDI Co.]
Samsung SDI Co., battery making unit of Samsung Group, has finished refurbishing its plasma display panel manufacturing facility into an electric vehicle (EV) battery plant in Hungary to ramp up capacity in EV charge market.
The Korean battery maker said it celebrated the completion of construction of its EV battery plant in Goed, 30 kilometers north of Hungary’s capital Budapest on Monday (local time). The site previously had produced plasma display panels and was transformed to make EV batteries. The new EV battery plant that sits on a 330,000 square-meter site is capable of turning out batteries to power 50,000 electric vehicles annually.
SDI’s latest technologies will be applied to the EV plant in Hungary, said Jun Young-hyun, SDI chief executive. “I expect the plant to contribute much to the growth of the European electric vehicle market,” Jun added.
The company plans to start commercial operation in the second quarter of next year, earlier than the originally planned second half.
The battery maker wants to speed up operation of the Hungary plant as its plan to ramp up capacity at its EV battery plant in China has been delayed due to multiple setbacks.
Samsung SDI now has EV battery manufacturing bases in Korea, China, and Hungary. The new plant is expected to help the company save logistics costs and improve customer services in Europe, the company said.
Shares of Samsung SDI finished Tuesday at 164,500 won ($146.21), down 500 or 0.3 percent from the previous session.
By Lee Dong-in
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