Samsung SDI plans to build third battery plant in Hungary

Samsung SDI has decided to invest in building a third battery factory in Hungary. The factory was built to expand the company's business in Hungary, and the expansion of the second factory is expected to be completed in September this year. The company expects to invest more than 6 trillion won in overall facility expansion this year, of which 1 trillion won will be used for the construction of the third factory. Despite the current economic downturn that has led to a decline in demand for electric vehicles and batteries, Samsung Electronics CEO Lee Jae-yong said that bold investments are still needed.