Samsung SDI, the battery-making unit of Samsung Group, has set its sights on the Chinese market, which is on course to become the world’s largest electric vehicle (EV) market.
On October 22, Samsung SDI held a completion ceremony for the Xian plant at the Gaoxin Technology Industry Development Zone in Shaanxi Province, with high-profile officials (such as Samsung SDI CEO Cho Nam-seong and Samsung China President Jang Won-ki) in attendance.
The Xian plant is a state-of-the-art EV battery production line that is capable of churning out high-performance batteries for approximately 40,000 EVs per year.
The new plant is designed to seamlessly handle the entire production process of batteries, from manufacturing cells to assembling them into modules.
Predicting a spike in demand for EVs, Samsung SDI will gradually invest a total of USD 600 million in expanding the Xian production line by 2020 in order to attain USD 1 billion in sales.
