Report – Samsung moving to set up battery plan in Hungary image

According to the latest rumor off the mill, South Korean powerhouse Samsung, through its Samsung SDI affiliate has decided to make use of the growing popularity of electric vehicles in Europe.

As such, the South Korean company is allegedly looking to build a new battery factory – and they have already come up with the prospective location, close to Budapest in Hungary. The facility should be up and running during the second part of 2018 and by then they would have invested about 400 billion won (about $356.8M / €320M), with the battery capacity high enough to supply packs for 50,000 pure electric cars. Samsung SDI, an ffiliate of Samsung Electronics, is today producing batteries at home in South Korea for the BMW i3 and has established since last year a new factory in China as well.

A Samsung SDI representative has said the new location near Budapest will ‘save logistics costs and quickly cope with demand from customers, as European companies have manufacturing bases around Hungary.’ During the Consumer Electronics Show (CES) in Las Vegas, Samsung SDI showcased a new EV battery prototype delivering up to 373 miles (600 kilometers) of range. And we could see these batteries that look to eschew “range anxiety” in the BMW flagship set to appear around 2021.

Via reuters.com