[Concall] Samsung SDI "Considering Additional Factory in US... Also Reviewing ESS Line"

Samsung SDI Giheung Headquarters. Photo by Samsung SDI

Samsung SDI announced plans to establish an additional factory in the United States.

On the 30th, during the Q3 earnings conference call, Samsung SDI stated, "We are considering forming a joint venture (JV) or establishing a standalone factory in the U.S. with another automaker besides Stellantis and GM," adding, "We will proceed with this while taking into account the company's mid- to long-term growth strategies, including not only automotive batteries but also ESS (Energy Storage Systems)."

A Samsung SDI representative said, "The increase in power demand due to AI industry growth centered in the U.S. and the expansion of eco-friendly power generation make the demand for ESS a long-term trend," and added, "The AI power demand in the U.S. market is projected to expand sixfold to 97 TWh by 2030."

They continued, "Our company has launched power solutions with enhanced energy density and safety, improving product competitiveness, which has rapidly improved sales and profitability," and stated, "Following over 20% sales growth in Q3, sales in Q4 are expected to increase even more significantly, with profitability continuing to improve."