Samsung SDI Invests 940 Billion KRW to Expand Electric Vehicle Battery Plant in Hungary
Aerial view of Samsung SDI's electric vehicle battery factory in Hungary. (Provided by Samsung SDI)
View original image[Asia Economy Reporter Jang Hyowon] Samsung SDI announced on the 23rd that it will invest approximately 1 trillion KRW to expand its electric vehicle battery factory in Hungary.
Samsung SDI acquired 75,000 shares of its Hungarian subsidiary (Samsung SDI Hungary Zrt.) for about 403.8 billion KRW and made an additional investment of 538.4 billion KRW through debt guarantees, totaling 942.1 billion KRW.
Samsung SDI operates a 30 GWh (gigawatt-hour) electric vehicle battery factory in the northern G?d region of Hungary.
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This factory serves as Samsung SDI's European production base supplying electric vehicle batteries to European automakers such as BMW and Volkswagen.
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