Shulou(Shulou.com)11/24 Report--

CTOnews.com, September 19 (Xinhua)-- South Korean battery maker Samsung SDI announced in late May that it will invest more than $2.5 billion (about 17.525 billion yuan) with Stellenatis, the world's fourth largest automobile group, to build a battery factory in Indiana. In late August, Samsung advanced the start of its joint venture plant in Indiana to early October from the end of this year in view of the implementation of the inflation reduction Act in the United States. Recently, it has been reported that Samsung SDI will build another battery factory.

Samsung SDI recently held talks with Victor Anthony Fedeli, Ontario's minister of economic development, job creation and trade, about building a battery factory in Ontario, BUSINESSKOREA reported today. According to the local media quoted Minister Fedeli as saying, the results of the talks are more positive, and he expects to have a result soon. That means Samsung SDI could build a battery factory in Ontario, Canada.

As previously reported by CTOnews.com, on August 24, Samsung SDI's board of directors confirmed a plan to invest 2 trillion won to expand battery capacity for electric vehicles in Hungary, which is expected to have a battery production capacity of 1 million electric vehicles per year. The 2 trillion won (about 10.08 billion yuan) invested in electric vehicle batteries in Europe is said to be the largest single investment in history. Although Samsung SDI did not disclose specific investment projects, it is estimated that in the past two years, apart from the mobile and ESS areas already implemented, the investment in electric vehicle batteries is close to 3 trillion won.

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