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Samsung is opening up another battery factory in Hungary - SamMobile

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Last updated: March 5th, 2024 at 06:04 UTC+01:00 Wholesale Battery

Samsung is opening up another battery factory in Hungary - SamMobile

Samsung SDI, the conglomerate's battery affiliate, already has a sizable presence in Hungary. The company manufactures many different types of batteries in the country. As demand for battery products grows, so does its need to expand production capacity.

According to a new report out of South Korea, Samsung has finalized plans to set up another battery factory in Hungary. This would be the company's third such facility in Hungary, where it has already invested billions of dollars in similar facilities.

Samsung SDI is currently expanding its second battery factory in Hungary. The expansion works are slated to be done by September this year. It's unclear what specific battery products Samsung will be making at its third facility, but earlier reports have provided some hints.

It was reported a while back that Samsung will be producing batteries for BMW's electric cars at a new battery plant in Hungary. Giving the rising demand of electric cars in Europe, a manufacturing base in Hungary will position

Samsung SDI in a favorable position to cater to demand not just from BMW but from the plethora of other manufacturers that are rapidly moving towards electrification of their lineups. Recent reports have also highlighted this facility may be used to supply batteries to Hyundai, another Korean conglomerate, as it brings its electric vehicles to Europe.

This focus on expanding battery manufacturing capacity flows straight from the top. Samsung Group boss Lee Jae-yong recently said during a trip to Samsung SDI's facilities in Malaysia that bold investments have to be made in this segment, despite economic challenges, to cater to future demand.

Samsung has a battery manufacturing division called Samsung SDI, which makes batteries for products ranging from smartphones to EVs. Earlier today, Samsung SDI announced its financial results for Q1 2024. The company's sales have fallen despite higher EV business, but the company vows to become a “global top-tier company by 2030.” Samsung SDI profits fall […]

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Last year was bad for Samsung. Its revenue and profit took extreme hits, and the company has been under pressure from competition and the global economic downturn. While its profit increased in the first quarter of this year, Samsung has reportedly switched to a six-day workweek to inject a sense of crisis in its employees. […]

Electric vehicles need batteries and as consumer demand for these vehicles grows, so does the need for carmakers to source a lot more batteries. Samsung SDI has been investing heavily to become one of the leading players in the market, and its latest plans involve setting up its own factory in the United States to […]

In May 2022, Samsung SDI revealed that the company was developing cylindrical batteries with a 46mm diameter and that it would finalize the design of those batteries by 2023. Now, the CEO of Samsung SDI, Yoon Ho Choi, has announced that the company will make the batteries with 46mm diameter ready for mass production by […]

With car manufacturers across the globe rapidly electrifying their lineups, demand for batteries has gone through the roof. Samsung SDI, the battery making company of the Samsung Group, has been investing heavily in its manufacturing facilities to cater to this demand. Samsung SDI is also focusing on improving battery technology in order to provide next-generation […]

Samsung is opening up another battery factory in Hungary - SamMobile

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