Capacity utilization rate declined, Samsung SDI's electric vehicle battery factory in the United States will be converted into an energy storage facility.

Samsung SDI is accelerating the transformation of its joint venture electric vehicle battery factory with automotive manufacturer Stalantis group in the United States. The aim of this transformation is to convert this production base, which has seen a slowdown in demand for electric vehicles and a decrease in capacity utilization rates, into a facility to meet the market demand for local energy storage systems. It is reported that Samsung SDI has issued letters of intent to South Korean domestic equipment and component companies, and has entered the procurement process. This equipment procurement will be used to transform a part of the production line at the phase one factory of StarPlus Energy in Indiana, USA into a production line for square lithium iron phosphate batteries for energy storage systems. It is estimated that the equipment installation for the lithium iron phosphate production line will be completed in the first half of next year; after initial production validation, the production capacity will gradually increase starting in the second half of next year.