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Samsung SDI to invest KRW 1.3 trillion to expand battery facility in China

Infra News - Published on Fri, 14 Dec 2018

Image Source: pulsenews.co
Pulse News reported that Samsung SDI joined other Korean battery majors to ramp up battery plants in China to be ready for a leveler playing field in the world’s biggest electric vehicle market as the result of 2020 sunset in Beijing subsidies to EVs. The company on Wednesday announced it will spend KRW 1.3 trillion to up battery production capacity in Xian and Tianjin. The expansion on the battery factory in Tianjin, China, will be completed by early next year. The company will spend about 400 billion won to add three to four new lines in a 100,000 square meter site near its existing factory built in 1996 for production of small-size batteries powering smartphones and other small gadgets.

Samsung SDI also confirmed it will build two new battery plans in Xian in addition to its facility dedicated to medium- and large-size batteries for electric vehicles. The company is currently in discussion over investment details.

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Posted By : Nanda Koijam on Fri, 14 Dec 2018
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