The success of battery mass production remains to be seen
Volkswagen should see opportunities in prismatic battery adoption
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Shinhan Investment Corp. Samsung SDI (006400)“The investment sentiment is deteriorating due to Volkswagen’s announcement of its own battery investment,” he said. We maintained our BUY rating with a target price of KRW 900,000.
Hyeon-cheol Soh, a research fellow at Shinhan Investment Corp. said on the 19th, “It remains to be seen whether Volkswagen’s own prismatic battery mass production will proceed successfully.”
Volkswagen plans to invest in its own 240GWh battery line in collaboration with Sweden’s Northvolt by 2030. Researcher So said, “This is about 4 million units based on 60KWh per electric vehicle.”
However, researcher So argues that we should be cautious about the news of Volkswagen’s investment announcement. He said, “In the past, Bosch, Germany, which established a battery joint venture (JV) with Samsung SDI, promoted mass production of batteries by itself, but gave up the battery business for technical reasons.”
Instead, it explains that Volkswagen should see an opportunity in adopting a prismatic battery. Volkswagen has announced plans to install prismatic batteries in 80% of electric vehicles by 2030. Currently, Samsung SDI and China CATL are the companies that make prismatic batteries for electric vehicles.
Researcher So said, “If the global electric vehicle battery market is rapidly reorganized to be prismatic, it is expected to be an opportunity factor for Samsung SDI, the only Korean company that produces prismatic batteries. That is the key to securing profitability,” he interpreted.
/ Reporter Shim Woo-il [email protected]
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