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

January 10 news, according to foreign media reports, with the increasing demand for electric vehicles, the demand for batteries as a key component is also increasing, and a number of battery manufacturers have also begun to expand their capacity to meet the battery needs of automobile manufacturers.

Manufacturers to expand capacity include LG New Energy, SK On and Samsung SDI, the three major South Korean electric vehicle battery manufacturers, who have won a large number of battery orders. LG New Energy and SK On also plan to build a number of battery plants around the world, some of which will be jointly built with automobile manufacturers.

On the 9th, industry insiders revealed that SK suspended plans to build a battery factory in Turkey with Ford of the United States. SK believes that because the market situation changes too quickly in a short period of time, it is impossible to continue to push forward the Turkish factory project.

In addition, LG is also reconsidering plans to build a 1.7 trillion won battery plant in Arizona, and LG insiders believe that due to changes in the market, the investment must be strictly and prudently checked.

For Samsung SDI, no follow-up large-scale investment has been announced since it announced a joint venture with Stellantis in Indiana in May 2022.

SK On signed a memorandum of understanding with Ford and a Turkish company in March last year to jointly invest 3 trillion won to build a battery plant with an annual capacity of 30-45GWh.

But the latest news from SK On shows that they are discussing the construction of a joint venture plant with relevant parties after signing the memorandum of understanding, but they have not yet finalized a final plan, although they have not decided to end the negotiations.

What LG New Energy is reconsidering is the planned battery plant in Arizona, which was announced last year with a planned investment of 1.7 trillion won. Foreign media reported that people related to LG new energy revealed that they have not cancelled the construction plan of the Arizona plant and are re-evaluating it. Due to changes in market conditions, they intend to carefully study their investment plan.

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