Samsung SDI president takes aim at overseas future energy market

Samsung SDI President Jun Young-hyun said Wednesday he would focus on pioneering overseas energy storage systems market and investing in the company’s second battery plant in Hungary.

At the general shareholders meeting held in Seoul, Jun Young-hyun handpicked ESS and electric vehicle batteries as the company’s main agenda.

“This year, the focus is on overseas ESS business and investment in the second EV battery plant in Hungary,” Jun said at the meeting.

The battery maker plans to invest 1.2 trillion won ($937.1 million) by 2030 to expand the monthly production capacity of its plant No.1 to 6 million battery cells from the current 4 million cells and to build plant No.2 with the production capacity of 12 million cells, a total of 18 million cells.

By Kim Byung-wook (kbw@heraldcorp.com)