Samsung SDI Co Ltd said the South Korean company on Thursday (July 21) held a ceremony to mark the groundbreaking for its 1.7 trillion won (about RM5.8 billion) second cylindrical battery production facility (Plant 2) in Seremban, Negeri Sembilan to meet the rising demand for cylindrical batteries, which will be used in applications including electrical tools and electric vehicles (EVs).
"Company held a ground-breaking ceremony of Plant 2 in Malaysia on July 21 with a plan to start mass production of PRiMX 21700 cylindrical batteries in 2024," Samsung SDI said in a statement on Thursday (July 21).
Samsung SDI added the ground-breaking ceremony for Plant 2 of SDIEM was attended by, among others, Samsung SDI president and chief executive officer Yoonho Choi and Negeri Sembilan Menteri Besar Datuk Seri Aminuddin Harun.
Choi said in his opening remarks: "Today's ground-breaking ceremony will serve as a starting point for realising our vision to become a global top-tier company by 2030.
"With successful completion and early stabilisation of Plant 2, we will make SDIEM the centre of the global battery industry.
"With the support from the Malaysian state government and partner companies for best quality, we will be able to realise the vision much faster," he said.
Meanwhile, Aminuddin said Samsung SDI's investment in Malaysia is integral to Malaysia's vision of driving robust economic growth in the country and Negeri Sembilan as outlined in the Malaysia Vision Valley 2.0 plan.