Samsung SDI Breaks Ground For RM5.8b Battery Factory In Malaysia – Production To Begin In 2024
In order to meet the rising demand for cylindrical batteries, which will be used in applications such as electrical tools and electric vehicles, Samsung SDI Co Ltd reported that the South Korean company on Thursday (July 21) held a ceremony to mark the groundbreaking for its 1.7 trillion won (about RM5.8 billion) second cylindrical battery production facility (Plant 2) in Seremban, Negeri Sembilan (EVs).
Credit: reuters
"Company held a ground-breaking ceremony of Plant 2 in Malaysia on July 21 with a plan to start mass production of PRiMX 21700 cylindrical batteries in 2024," Samsung SDI said in a statement on Thursday (July 21).
Credit: Bernama
Samsung SDI says that the company conducts its business in Malaysia through Samsung SDI Energy Malaysia Sdn Bhd (SDIEM).
According to Samsung SDI, SDIEM was the company's first international business unit when it was founded in 1991.
Prior to switching to batteries in 2012, the company (SDIEM) initially produced braun tubes, according to Samsung SDI.
Yoonho Choi, president and CEO of Samsung SDI, and Negeri Sembilan Menteri Besar Datuk Seri Aminuddin Harun, among others, were present at the groundbreaking ceremony for Plant 2 of SDIEM, according to Samsung SDI.
Aminuddin said that the Malaysia Vision Valley 2.0 plan's goal of fostering strong economic growth throughout the nation and in Negeri Sembilan depends on Samsung SDI's investment in Malaysia.
This is not only a monument to Negeri Sembilan's economic potential, but also to the state's investment-friendly policies.
Samsung [SDI's] investment to be the pioneer in EV battery cell manufacturing in Seremban would promote more prospects for local enterprises.
As demand increases for use in electrical tools, micromobility to EVs, and energy storage systems, the global cylindrical battery market is anticipated to grow from 10.17 billion cells in 2022 to 15.11 billion in 2027, for an average annual growth rate of 8%.
Samsung SDI made the decision to build the second production in Malaysia as a means of addressing the recent increase in demand for cylindrical batteries.
According to Samsung SDI, the batteries from Plant 2 will be used in a variety of applications, including EVs, micromobility, and electrical equipment.
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