Samsung SDI is to build an automotive battery production factory in Wuxi New District (WND) in addition to its photovoltaic paste production plant set up in the city last year.
Wang Quan, mayor of Wuxi municipal government met Seh Woong Jeong, executive vice president of Samsung SDI's Automotive & Ess Business on Sept 29 and jointly attended the signing ceremony.
Wang said as the core component of new energy vehicles (NEV), the automotive battery program will provide a boost to Wuxi's NEV industrial development and innovation capacity.
He also hoped Wuxi and Samsung could further expand cooperation areas and pledged to create a favorable business environment for the South Korean multinational conglomerate.
Seh Woong Jeong explained why Samsung SDI chose Wuxi to be its automotive battery manufacturing base. He said China has the world's biggest new energy vehicle market. Wuxi, a city located in the heart of the Yangtze River Delta economic hub, in Jiangsu province boasts convenient transportation and a favorable business environment. He also extended his wish to promote further cooperation with the city.
The automotive battery production factory is jointly invested by Samsung SDI and the Wuxi New District Technology Financial Venture Investment Group and is expected to put into use in October, 2017.
