Samsung SDI Pumps In $1.3 Billion For Cylindrical Battery Facility In Malaysia

• The project will be completed by 2025 in a phased manner.
• The mass-production of PRiMX 21700 cylindrical batteries at the production unit at Samsung SDI Energy Malaysia (SDIEM) will certainly commence in 2024.

Global conglomerate Samsung SDI has actually announced that it will invest $1.3 billion in setting up of cylindrical battery lines in Malaysia by the end of this years to realize its ambition to come to be a global top tier company.

A novel ceremony was held for the construction of a 2nd battery manufacturing unit in Seremban, Malaysia. The new facility will be equipped with the state-of-art tools as well as innovations to step up the product. The project will certainly be completed by 2025 in a phased manner.

The company informed that the mass-production of PRiMX 21700 cylindrical batteries at the production unit at Samsung SDI Energy Malaysia (SDIEM) will certainly commence in 2024.

The second manufacturing facility of Samsung SDI is necessitated by the increasing demand for cylindrical batteries in the world. The manufacturing from the brand-new production facility will be utilized in applications like electrical products, electrical vehicles, mini movement, energy storage space systems and so on.

YooNho Choi, President and also Chief Executive Officer, Samsung SDI, claimed, "The groundbreaking ceremony will function as a starting factor for realizing our vision to become a Global Top Tier Company by 2030. With effective completion and also very early stabilization of Plant 2, we will certainly make SDIEM the center of the global battery sector. With the support from the Malaysian state federal government and also companion companies for highest, we will certainly be able to realize the vision much faster."

Aminuddin Harun, that is the Menteri Besar of Negeri Sembilan, said financial investments from Samsung SDIEM are needed for Malaysia's robust financial growth.

Harun held, "Not just is this testament to our economic potential in Negeri Sembilan, but additionally the investment-friendly policies applied by the State. Samsung SDIEM's investment to be the pioneer in Electric Vehicle (EV) Battery Cell production in Seremban will continue to produce jobs for the young people and also stimulate more chances for local organizations."

The cylindrical battery market worldwide will certainly grow from about 10 billion cells in 2022 to greater than 15 billion cells in 2027. The annually growth price has to do with 8 per cent usually.