Samsung’s de facto chief & vice president Lee Jae Yong has returned from his business trip to Europe this 18th of June and seems to be planning the next phase of expansion of business. After arriving, he answered questions from the media at Seoul Gimpo Business Aviation Center (SGBAC).
According to the local media sources, lee visited BMW representatives for an anticipated deal, to supply batteries to BMW.
Currently, SDI or Samsung Digital Interface supplies prismatic batteries to BMW. Prismatic cells are mainly used in energy storage systems and electric vehicles. Stacking multiple units in a battery module creates a Prismatic cell/battery.
Samsung SDI produces cylindrical and prismatic rectangular batteries, BMW is outlining using the latter.
German automaker BMW has a plant under construction in Hungary, where SDI’s major cathode supplier EcoPro BM will be constructing a plant. EcoPro BM produces precursors that are essential for the synthesis of cathode materials.
This EcoPro Bm plant will be nearby to the new BMW plant which will supply cathode materials to the SDI, the largest EV battery manufacturing plant in God, Hungary. This will make sure that the supply and assembly can go smoothly.
It is expected to have an annual production capacity of 108,000 tons. After the preliminary contract was signed this month, it is expected that roadmap has been devised and the plant will be completed in two halves in 2024.
BMW is expected to showcase its new EV platform in 2025, which is why things seem to be in accordance with future production.
As predicted for meetings during his trip to Europe, Lee also visited ASML and IMEC, which was seen to be the primary goal.ASML produces photolithography machines essential for making single-digit nm chips and IMEC is Europe’s largest R&D camp for chip-making processes and the latest technology.
Lee already has plans for meeting this week i.e. smartphone division on Tuesday, TV and home appliance on Wednesday, and semiconductor next Tuesday.
With its pledge to invest, earlier this year, Samsung Electronics announced to invest of 450 trillion won ($350 billion)during the next five years in future businesses like SC, Foundry, and Biopharma.
With already expansions of biopharma, chip, and foundry Samsung Group has envisioned working on EV batteries. Samsung group already Struck deal with Tesla and joined hand with Stellantis N.V., which is a multinational automotive manufacturing corporation.
Here is what Lee had to say about current plans and future vision :
“Technology must come first, second and third,”
-Lee Jae Yong,19th June.
Sources & References: