Samsung SDI has decided to focus on the Chinese vehicle market which they believe to be the largest in the world for electric vehicles.
On October 22, the completion ceremony for the Samsung SDI’s EV battery plant was held at Gaoxin Industrial District within Xi’an, Shaanxi Province of China.
Samsung SDI became the first global battery manufacturer to construct an EV battery plant and initiate mass production in China.
The Xi’an plant has been in operation since September. It has finalized battery supply agreements with 10 local personal and commercial vehicle companies and is already delivering product. Some of these companies include Yutong, a leading Chinese bus company and Foton, a major player in the Chinese trucking industry.
The completed Samsung SDI Xi’an Plant can manufacture can manufacturer high-performance electric vehicle batteries for approximately forty thousand cars a year. Samsung SDI is preparing for future increased market demand by pledging to invest – by adding production line, etc. – US$600 million into the Xi’an battery plant until 2020 targeting about US$1 billion in sales.
Samsung SDI CEO Cho Nam Seong said in his welcoming address, “Xi’an is a starting point of Silk Road and is also a focal point of China’s One Belt, One Road initiative.” He added, “To go hand in hand with China’s time-honored tradition and future development strategy, we will bring up Xi’an plant to become the world center of EV battery industry.”
Anqing Ring New Group Chairman Pan Yi Xin said, “By integrating our expertise in the automotive business with Samsung SDI’s advanced technical capability, we will promote Xi’an Plant as the number one production base of EV battery.”
ST Staff Writers
This post was prepared by Solar Thermal Magazine staff.