Samgi EV "Samgi America, Investment to Secure Production Base"

Samki EV announced on the 13th that it has decided to invest in securing a production base for its subsidiary Samki America.

Samki America is a U.S. corporation jointly invested in by Samki and Samki EV (100% equity) that produces automotive and secondary battery components locally.

The investment amount by Samki EV this time is 5 million USD. The cumulative investment amount since January is approximately 18 million USD. With this investment, Samki EV's stake in Samki America has increased to 66%, while Samki holds 34%.

On the 30th of last month, Samki America completed the establishment of a factory over about two years and began the first shipment of 8AT valve bodies to Hyundai Motor's U.S. plant. On the 8th of this month, it signed a contract worth 280 billion KRW for eM platform parts with Hyundai Motor in the U.S., receiving recognition for successfully establishing itself in the North American market.

This investment was decided not only for new orders but also to quickly respond to the expansion of supply volume according to the localization strategy of finished vehicles by expanding the production base. Currently, Samki America is regarded as the only die-casting company in the U.S. capable of producing secondary battery parts, electric vehicle parts, and internal combustion engine parts, raising expectations for continuous expansion of new orders.

A Samki EV official stated, “As finished vehicle plants including electric vehicles and electric vehicle battery plants are established in the U.S., and there is an increasing tendency to source related parts domestically, the scale of orders continues to grow,” adding, “We decided to expand the production base to respond more stably to the continuously increasing demand.”