Samsung SDI
Compare Samsung SDI…Samsung SDI Co., Ltd. manufactures and sells batteries and electronic materials in South Korea and internationally.
SectorsBatteries
Register for a premium account to gain access to Sterling AI.
Get StartedThings you can ask Sterling:
Samsung SDISamsung SDI Co., Ltd. manufactures and sells batteries and electronic materials in South Korea and internationally.
| Year | Energy Revenue (KRW B) | Energy OP (KRW B) | Energy OP Margin (%) | Total Revenue (KRW B) | Total OP (KRW B) |
|---|---|---|---|---|---|
| FY 2020 | 8,729 | 241 | 2.8 | 11,295 | 671 |
| FY 2021 | 10,947 | 538 | 4.9 | 13,553 | 1,068 |
| FY 2022 | 17,566 | 1,254 | 7.1 | 20,124 | 1,808 |
| FY 2023 (restated) | 20,406 | 1,342 | 6.6 | 21,437 | 1,545 |
| FY 2024 | 15,691 | 218 | 1.4 | 16,592 | 363 |
| Date / Milestone | Capacity / Capital | Detail |
|---|---|---|
| 2022-05-24. StarPlus Energy JV announced | $2.5B initial commit (combined) | Samsung SDI + Stellantis announce 50/50 JV for Kokomo IN battery plant; Phase 1 23 GWh initial capacity (later expanded to 33 GWh); plant on existing Stellantis-Kokomo industrial site |
| 2022-Q4. Site preparation + groundbreaking | Phase 1 site work | Kokomo IN site preparation begins; foundation work + utility connections + early building shell; targets 2024 first-cell-production milestone |
| 2023-07-24. Phase 2 announced | + ~34 GWh added (Phase 2) | Samsung SDI + Stellantis announce Phase 2 expansion adding ~34 GWh capacity on adjacent Kokomo IN site; cumulative announced capacity ~67 GWh; cumulative announced investment ~$6.3B (Phase 1 ~$3.2B + Phase 2 ~$3.1B) |
| 2024-Q3. Construction near completion | Phase 1 mechanical completion | Kokomo Phase 1 mechanical completion; commissioning + qualification testing for first cell production |
| 2025-Q1. First cell production | Phase 1 ramp start | First Stellantis-Samsung SDI battery cells produced at Kokomo Phase 1 in early 2025; initial volumes for Jeep Wrangler 4xe + Recon |
| 2025-Q2. Serial production | Phase 1 ~10% utilization | Phase 1 ramps to serial production by mid-2025; cell volumes supply Jeep Wrangler 4xe + Recon + Cherokee + Stellantis European-export models |
| 2025-Q4. Phase 1 ~25% utilization target | Ramp continuing | Phase 1 utilization at ~25% of nameplate 33 GWh by end-2025 per Samsung SDI Q3 2025 earnings call; targets full Phase 1 ramp 2026-2027 |
| 2026-2027. Phase 2 construction continues | Phase 2 in build-out | Phase 2 construction continues; targets mechanical completion 2027 + first cells 2027-2028 + full ramp 2028-2030 |
| IRA 45X eligibility | $35/kWh cell + $10/kWh module | StarPlus Energy production qualifies for IRA Section 45X advanced manufacturing production tax credits (AMPC); at full ~67 GWh capacity the JV is eligible for ~$2.5B+/year of AMPC at $45/kWh blended rate |
| Editorial. Samsung SDI US-IRA strategy | Strategic context | StarPlus Energy is Samsung SDI's most concentrated US bet; the company has smaller US partnerships (GM 50/50 JV for Spring Hill TN announced 2023, pending), but StarPlus is the anchor. LGES has broader US JV portfolio (Ultium Cells + Hyundai + Honda + Stellantis-LGES Windsor). Samsung SDI strategy emphasizes deeper integration with single Stellantis partner over LGES's multi-OEM approach |
$006400.KS
Produces advanced lithium-ion cells for EVs, consumer devices, and energy storage systems with ~3.3% global market share. ~90 GWh production capacity supplying BMW, Stellantis, Rivian, and other major automakers worldwide. Investing heavily in solid-state and high-nickel battery technology while expanding manufacturing in the US and Europe.
Key Milestones
Founded as Samsung-NEC Co. in Suwon as a 50/50 joint venture between Samsung Group and NEC of Japan to produce CRT vacuum tubes for televisions. Renamed Samsung Display Devices in 1984, then Samsung SDI in 1999 to reflect digital pivot. Lithium-ion cell mass production starts at Cheonan plant 2000: initial customers laptops and mobile phones, the foundation for later automotive scale-up.
Began commercial production of cylindrical 18650 lithium-ion cells at Cheonan plant: initial output ~100k cells/day for laptop OEMs. Marks Samsung's entry into the lithium-ion industry that would later anchor automotive and ESS programs.
Acquired Magna International's battery-pack business for $108M, broadening BMW i3/i8 supply with full-pack-engineering capability. Strategic move from cell-only supplier to full-stack pack provider in Europe: complements Goed (Hungary) plant build-out announced same year.
Goed, Hungary EV battery plant began commercial production: $358M Phase 1 investment, NCM 622/811 prismatic cells supplying BMW i3/i8 and emerging X3 BEV plans. First Korean cell maker with European in-region production, head-start before LGES Wroclaw and SK On Komarom come online.
StarPlus Energy JV with Stellantis announced: Kokomo, Indiana plant (33 GWh/yr), $2.5B initial capex. Supplies Jeep Wagoneer S, Dodge Charger Daytona EV, Chrysler Pacifica EV. Construction began Nov 2022; production targeted Q1 2025.
Second StarPlus plant announced in Kokomo, Indiana: additional 34 GWh/yr, taking combined capacity to 67 GWh by 2027. Supplies Stellantis NCMA prismatic cells across Jeep, Dodge, Ram EV programs.
Began pilot production of all-solid-state cells at Suwon S-line: initial 20 Ah sulfide-electrolyte ASSB format, targeting 2027 mass production with NCM811 cathode. Samsung SDI becomes second Korean cell-maker (after Hyundai-affiliated R&D) into ASSB pilot scale; benchmark for SK On / LGES catch-up.
Selected as primary cell supplier for BMW Neue Klasse Gen6 cylindrical 46xx platform: initial scope ~20 GWh/yr from Goed Hungary expansion + new Debrecen plant. Wins back BMW prismatic-platform attrition (BMW i3 era) with cylindrical Gen6 platform.
GM-Samsung SDI Indiana plant began battery cell production for GM EV programs: 30 GWh/yr ramp, NCMA prismatic cells. Samsung SDI's first US JV plant live; complements Stellantis StarPlus Kokomo plant nearby.
Confirmed Q1 2026 first ASSB A-sample delivery to undisclosed European OEM (likely BMW or Hyundai-affiliated): 35 Ah sulfide-electrolyte format, ~400 Wh/kg cell-level. On-track for 2027 mass production; ahead of Toyota's announced 2027/28 ASSB BEV launch.
