Samsung SDI started construction of a 1.7 trillion won (~RM5.77 billion) battery factory located in Seremban. This second phase factory is expected to be fully completed by 2025 with the production of PRiMX 21700 batteries being possible as early as 2024.
Samsung SDI Energy Malaysia (SDIEM) has been operating in Malaysia since 1991 but has only been producing batteries since 2012 at the same facility. The batteries produced by this factory will be used in electronic equipment, micro mobility vehicles and also electric vehicle batteries.
Demand for cylindrical batteries is expected to increase from 10.17 billion cells in 2022 to 15.11 billion cells by 2027 driven by demand from the power tools, electric vehicles and energy storage systems sectors.
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BUSINESS & MONEY