[Concall] Samsung SDI "IRA is a growth opportunity for US business... Tax benefits from 2023"

2022 3rd Quarter Earnings Announcement

[Asia Economy Reporter Choi Seoyoon] On the 26th, Samsung SDI stated during the Q3 2022 earnings conference call that regarding the Inflation Reduction Act (IRA), "We expect a positive impact as the U.S. green policy is accelerating."

Samsung SDI explained, "Among the green vehicle purchase tax benefits given to consumers, the key mineral-related conditions are expected to be met from 2023 by utilizing the meta that the U.S. has free trade agreements (FTA) with certain countries," adding, "Although the use of minerals from concerned countries will be completely excluded starting in 2025, Samsung SDI is working to meet the conditions through diversifying its supply sources."

They continued, "Tax benefits related to battery components are difficult at the moment, but from 2025 when local production begins, it is expected that conditions can be met through cooperation with major partners."

Samsung SDI also said, "Regarding tax benefits for local battery manufacturers, benefits are expected at the time of local production," but added, "Since interpretations within the law are still ambiguous, we need to confirm detailed contents. We will thoroughly prepare going forward and turn this into a good opportunity for growth in the Americas."

This content was produced with the assistance of AI translation services.