Samsung invested 1 billion dollars in all-new battery Gigafactory

Samsung SDI Xi’an Plant is a cutting-edge production line built it China that can manufacture high-performance electric vehicle batteries for an amount of approximately 40 thousand EVs a year.

11/20/15 4:00 am chumakdenis 1

Electric vehicle market is one of the most developing and promising. Numbers are always growing and it comes as no surprise that demand on components for electric cars will rocket in the nearest future.

Only Tesla Motors plans to produce 500,000 cars per year and how about other automakers?

Jees, you don’t need to be a rocket scientist to understand how big EV market will be.

That’s why such companies like LG, Samsung, Tesla Motors and BYD have already started fierce completion for the place in the sun.

This summer Chinese electric bus and car manufacturer BYD revealed its plan to build Tesla-like Gigfactory within 5 years, LG Chem modified its factory in order to be able to produce second-generation batteries, Tesla Motors bought more ground and started working more efficiently –it would be strange if they wouldn’t – and Samsung SDI…simply invested  1 billion dollars and built EV battery Gigafactory in China, thus becoming the first global battery manufacturer.

What a coming of age.

Already in use

To make other companies even sulkier, I should say that the Xi’an plant has initiated its operation from September 2015 and is already in use.

It has finalized battery supply agreements with 10 local personal and commercial vehicle companies and is already delivering the goods.

Some of these companies include big name players such as Yutong (the leader of China’s bus industry) and Foton ( the leader of China’s truck industry).

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A few words about battery factory

5273.jpgThe finalized Samsung SDI Xi’an Plant is a cutting-edge production line that can manufacture high-performance electric vehicle batteries for an amount of approximately 40 thousand cars a year. The plant is capable of carrying out the whole production process of electric vehicle battery cells and modules.

Emerging Chinese market

The latest forecast by market research firm B3 showed that sales of electric vehicles in China grew more than five times to about 80,000 units in 2014, with the amount projected to surge to 240,000 units next year.

Investing even more

Preparing for increased market demand in the future, Samsung SDI will invest 600 million USD into the Xi’an battery plant until 2020.

5277.pngSamsung SDI CEO Cho Nam Seong said: “Xi’an is a starting point of Silk Road and is also a focal point of China’s One Belt, One Road initiative.”

“To go hand in hand with China’s time-honored tradition and future development strategy, we will bring up Xi’an plant to become the world center of EV battery industry.”

5272.jpgAnqing Ring New Group Chairman Pan Yi Xin added: “By integrating our expertise in the automotive business with Samsung SDI’s advanced technical capability, we will promote Xi’an Plant as the number one production base of EV battery.”           

Well, as it can be seen from statements, Samsung has definitely big shoes to fill.

Let’s wish the company good luck and wait more news from them.

 

*Do you think that the company will be successful?

 What will Tesla’s next move be?

Leave your comments on that in the comment section below.

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