Samsung SDI, BOSCH to Jointly Build Lithium-Ion Battery Plant in Ulsan

South Korea-based Samsung SDI and Germany-based BOSCH, an internationally renowned car component manufacturer, are to jointly construct a plant to manufacture rechargeable batteries.

The city of Ulsan announced that it has signed a Memorandum of Understanding (MOU) with SB LiMotive, a joint venture between Samsung SDI and BOSCH, on August 27.

A full-scale production facility of lithium-ion batteries, which are to be supplied for BMW's electric vehicle (EV) and hybrid electric vehicles (HEV), is to follow as announced by SB LiMotive at the beginning of this month. According to the Ministry of Knowledge Economy (MKE), a ground-breaking ceremony of constructing the production line for lithium-ion batteries is to take place on September 10 and the construction is expected to be completed by 2011. A total of 700 employees needed for operation of the facility will be hired from the city of Ulsan.

The city of Ulsan has decided to fully support by giving approval needed for the plant construction and a tax deduction; and create a high-tech valley to hold SB LiMotive partner firms as well as semiconductor, electric, electronic, new material-related companies. The planned high-tech valley scaling 2.975 million ㎡ has been promoted by the city since 2006 to advance structures of regional industries and nurture next-generation green growth industries.

Ulsan spared no effort in attracting the plant by holding a series of meetings with high officials at Samsung SDI to reaffirm their full support. The city is looking forward to revitalizing the sluggish regional economy once the lithium-ion battery production line for electric vehicles is complete.

[Yen-mi Hong/ JYJ]

[ⓒ Maeil Business Newspaper & mk.co.kr, All rights reserved]