Samsung SDI is slated to supply batteries for ESS to US clean energy company NextEra Energy Inc.in a 1 trillion won deal.“We don’t have a major change in investment plans, including capital injection in Hungary-based battery facilities expansion and the construction of the first US EV battery plant of Samsung SDI-Stellantis N.V.joint venture for secured orders, as well as all-solid-state and 46-phi batteries for our mid-to-long-term growth,” said Samsung SDI’s business management office finance team head Kim Yoon-tae.
Samsung SDI Co., the world’s sixth-largest electric vehicle battery maker, saw its second-quarter operating profit plunge from a year-earlier period due to sluggish EV sales of its European clients, such as BMW, Volkswagen and Audi, and low demand for cylindrical batteries.
The global demand may continue to fall short of projection in the second half and the recovery momentum could be later than anticipated,” Samsung SDI’s Executive Vice President Kim Jong Sung said during the earnings conference call on Tuesday.“We believe the falling demand is short-term impact by chasm (or slower-than-expected uptake of a product), inventory adjustments and uncertainties in macro environment, and our mid-to-long-term growth will remain unchanged,” Kim added.
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