Samsung SDI has finalized its plan to build a third battery factory in Hungary, TheElec has learned.
The company is expected to spend over 6 trillion won in expanding its overall facilities this year __ over 1 trillion won of that will go into building the third factory, sources said.
Samsung SDI is expanding its existing second factory in Hungary with completion expected in September.
Samsung Electronics executive chairman Lee Jae-yong, the boss of the entire Samsung business group, earlier this month during his visit to Samsung SDI’s facilities in Malaysia said bold investments must be made despite the economic downturn, which has caused demand for electric vehicles and batteries to drop.
Samsung SDI is building factories in Hungary to supply them with batteries from 2026 to 2032 for Hyundai Motor’s EVs launching in Europe.
These batteries will be prismatic and use a high-nickel cathode with over 91% nickel and an anode with over 10% silicon in it, or si-carbon-nanocomposite.
Samsung SDI is also bringing in laborers from the Philippines to work at its factories in Hungary.
