Samsung SDI Battery Systems Opened for Electric Vehicle Market

published: 2015-05-13 15:53 | editor: | category: News

Samsung SDI has held the opening ceremony to officially commence operations of Samsung SDI Battery Systems (SDIBS) in Graz, Austria. SDIBS targets at future demand to batteries using for electric/hybrid vehicles and plug-in hybrid cars, which are forecasted to reach 7.7 million by 2020.

Samsung SDI signed an agreement to acquire Magna International’s battery pack business in February 2015. With Magna’s experience in global automotive market and battery packs, Samsung SDI will enhance its capabilities in batteries for electric vehicles. This acquisition combined Samsung SDI with the entire battery pack business from Magna Steyr, an Austria-based operating unit of Magna International, including all 264 employees, production and development sites and existing business contracts. Samsung SDI secures customers in the fast-growing automotive battery markets in Europe, North America and China.

"The opening of SDIBS is a key step towards becoming the leading automotive battery system supplier,” said Namseong Cho, President and CEO of Samsung SDI, at the opening ceremony. “Samsung SDI will integrate SDIBS' capabilities in battery pack systems, with its superior cell technology to create world class automotive battery systems.”

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