Samsung to invest $1 billion in electric vehicle batteries in Europe

Many expertise firms have an interest in the electric automobile market, which has change into very fashionable in latest years, and are making enormous investments.

One among these firms is the South Korean expertise big Samsungcontinues to invest in electric vehicle batteries.

The corporate expects a rise in battery demand in the long run, particularly in the European area, and needs to reply to the wants of automakers.


Samsung, which is able to double the manufacturing capability in the Hungarian manufacturing unit, will make a large funding of roughly 1 billion {dollars} right here.

The capability enlargement will permit Samsung to produce roughly 1 million EV batteries annually. On this means, the corporate’s hand will change into fairly robust in contrast to different rivals.


Whereas many European automakers reminiscent of Audi, BMW and Volkswagen are planning to transition to absolutely electric automobiles, the necessity for batteries will enhance daily.

Being conscious of this, Samsung goals to lead the market by rising battery manufacturing considerably.

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