MNS 0.00% 4.2¢ magnis energy technologies ltd

Market Watch - industry news, research, forecasts

  1. 625 Posts.
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    APRIL 26, 2016

    Interesting..

    "So when we tell you that Samsung SDI has just sold its fuel cell division because it is simply unprofitable (and presumably has no long-term chance of making a profit), we think the facts speak for themselves. Add in the news that it is also preparing to invest an additional ₩1 Trillion ($870 million) in lithium-ion battery technology"

    “We will invest 3 trillion won in the [electric] car battery business by 2020 to make it one of the globally best businesses in the industry,” Samsung SDI chief executive Cho Nam-seong said earlier this year during a Samsung SDI shareholder meeting. While not quite the level of investment being planned by California automaker Tesla Motors and its lithium-ion technology partner Panasonic in the massive Gigafactory, Samsung’s planned investment should not be sneezed at.
    With global electric car sales on the rise and more and more demand for longer-range electric cars, there’s plenty of space in the electric car battery market for Samsung SDI to turn a healthy profit. With its Ulsan and Xian production facilities already producing enough lithium-ion cells for 200,000 electric cars per year — many of which are used in BMW electric cars — Samsung is perfectly poised to benefit from increased electric car battery demand.

    https://transportevolved.com/2016/0...rillion-into-lithium-ion-battery-development/
 
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