Samsung SDI completes its European battery gigafactory

Samsung SDI completes its European battery gigafactory

Business news |
By Nick Flaherty

The ceremony at the plant in Goed, 30 km north of Budapest, Hungary, was attended by Hungarian Prime Minister Viktor Orban, Samsung SDI President Jun Young-hyun, Hungarian Minister of Foreign Affairs and Trade Peter Szijjarto and Korean Ambassador to Hungary Yim Geun-hyeong.

The plant on the 330,000 square-meter site is capable of producing batteries for 50,000 electric vehicles annually with operations expected to begin in the second quarter of 2018. This is the third such plant after Ulsan in South Korea and Xian in China.

The market for batteries in Europe, one of core parts of electric vehicles, is expanding fast alongside the EV market, says the company. “State-of-the-art technology will be applied to batteries to be made in this plant in Hungary,” said Jun Young-hyun, president of Samsung SDI. “Batteries are one of the most important parts supplied to global car makers. I expect the plant to contribute much to the growth of the European electric vehicle market.”

“In the early 1990s, we met capitalism and encountered various kinds of companies and brands,” said Viktor Orban, the Hungarian Prime Minister. “We have learned that ‘Made in South Korea’ is a warranty check that guarantees quality of a product. Korea was good example to us indeed. We learned that this is the most important key for a diligent small country to build a strong economy and hold a firm position in the world market. Samsung learned from others but it has always walked its own path. Goed wanted Samsung SDI and Samsung SDI wanted to come back to Goed. That’s the reason for the Hungarian government to support this project.”

Related stories:

If you enjoyed this article, you will like the following ones: don't miss them by subscribing to :    eeNews on Google News


Linked Articles