Cylindrical battery investment resumed
Samsung SDI will continue to invest in the Hungarian plant again this year. In addition to the investment in cylindrical batteries that did not exist last year, investments of over 1.7 trillion won recorded in 2019 are expected.
On the morning of the 17th, Samsung SDI held the 51st regular shareholders’ meeting at The K Hotel in Yangjae-dong, Seoul, and passed three agenda items, including approval of financial statements and appointment of directors. It was over in 30 minutes without any disagreement.
President Jeon Young-hyun said in a greeting from the chairman, “We will upgrade the company’s competitiveness to the next level by expanding core bases such as Hungary.” ‘Securing differentiated technologies’,’improving quality competitiveness’, and environmental, social, and governance (ESG) were selected as key promotion items.
Samsung SDI will start mass production of the 5th generation battery (Gen5) product at its Hungary plant in the second half of the year. The new lithium-ion battery separator (LiBS), which has improved heat resistance (withstands heat) by more than 30% compared to existing batteries, and high-nickel nickel-cobalt-aluminum (NCA) cathode materials with a nickel content of 80% or more are used.
Recently, it has decided to issue a capital increase to shareholders for the purpose of financing facilities for the Hungarian subsidiary (Samsung SDI Hungary Zrt.). The scale is 403.8 billion won. A debt guarantee of 5384 billion won was also provided.
This year, investment in cylindrical batteries, which was not conducted last year, is also made. It plans to invest 131.5 billion won first. However, no specific investment destination has been determined. It is reported that the Seremban plant in Malaysia, which has many old lines, is considered first. The Tianjin plant in China, which can receive subsidies, is also Hubo.
At the general shareholders’ meeting that day, vice president Jang Hyuk and vice president Kim Jong-seong were newly appointed as new executive directors. Vice President Jang served as the head of the research institute and then the head of the electronic materials and small-sized battery business. Vice President Kim served as the support team leader of Samsung Display and the support team leader of Samsung Electronics’ video display division. Samsung SDI has 3 internal directors and 4 external directors, with a total of 7 directors maintained.
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