Samsung SDI seeks partner to build battery plant in Europe

Samsung SDI's decision last month to build a $2.5 billion traction battery plant in the United States with automaker Stellantis may not be the last of its kind.
Korean media reports that formal head of Samsung Lee Jae-yong (Lee Jae-yong) during his visit to Europe may find a partner among the automakers to organize the local production of traction batteries for electric cars.Image source: Samsung SDINot for sure, as explained by Business Korea, this partner will be Stellantis, because the issue will be discussed during the visit of Samsung Electronics vice-president to Germany, where the position of the auto industry is traditionally strong.
The European subdivision Samsung SDI already has enterprises in Hungary and Austria, while the new site will have to be developed jointly with one of the interested carmakers.
The program of Samsung's European visit also includes visits to the headquarters of Siemens and Infineon Technologies.
The Korean conglomerate has a long-standing relationship with the former, and the latter could reportedly be an asset Samsung would like to buy.
Lee Jae-yong will also visit the Netherlands, Belgium, Britain and France.
In the first of these countries, he is interested in talks with ASML on the supply of lithographic equipment, and in the second, he will talk to the authorities of the united Europe about the possibility of Samsung receiving subsidies if it builds new plants in the region.