Samsung SDI to build EV batteries in growing European market
Samsung SDI has opened its first European electric vehicle battery factory in Hungary, capable of building 50,000 units per year and supporting what’s said to be a fast-growing local market.
The 330,000 square metre site in Goed, near Budapest, will begin production in the second half of 2018 and gives the South Korean company a manufacturing base near BMW and the Volkswagen Group, both of whom use its batteries in their plug-in vehicles.
Batteries would previously have been imported from its factories in South Korea and China, which can now focus on local markets. Samsung SDI said the site – a former plasma display panel factory – cuts logistics costs and enables it to better serve its customers in Europe, where environmental policies are driving growth in plug-in vehicle sales.
“State-of-the-art technology of Samsung SDI will be applied to batteries to be made in this plant in Hungary. 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.” Samsung SDI President Jun Young-hyun said.
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