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Wednesday, December 8, 2021

Big 3 K-Battery companies invest KRW 7 trillion this year... Expansion of R&D and facilities - Etnews

Last updated Wednesday, November 24, 2021 02:25 ET , Source: NewsService

Investing a third of KRW 23.2 trillion in total sales of the three companies
Samsung SDI invests in R&D the most at KRW 643.8 billion
LG Energy Solution invests in facility investment at KRW 2.425 tri

The top three domestic battery companies have invested more than KRW 7 trillion in research and development (R&D) and expansion of production plants until the third quarter of this year. It is a third of the total sales of the three companies during the same period, which is KRW 23.2250 trillion. It is the second largest amount of sales in the parts industry following semiconductors.

After analyzing business reports of the companies, the total facility investment of the three companies, LG Energy Solution, Samsung SDI, and SK On amounted to KRW 4.9535 trillion by the third quarter of this year. KRW 1.307.1 trillion was invested in R&D. It is understood that the company has focused on expanding production infrastructure to respond to European and American automakers and investing in Hi Nickel-based products. In R&D, Samsung SDI (KRW 643.8 billion) invested the most, and in facility, LG Energy Solution (KRW 2.425 trillion) invested the most. It is also understood that Samsung SDI invested a large amount in R&D for Hi Nickel 'Gen 6' batteries, which have more than 90% nickel content.

On the other hand, Samsung SDI's investment in facilities was the least among the three companies at KRW 1.1286 trillion. It seems like Samsung SDI began the first battery plant...



Read Full Story: https://english.etnews.com/20211124200002

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