S Korea: Samsung SDI predicts cylindrical battery cells for EV will grow by 20 pc every year by 2026

Samsung SDI predicted that cylindrical battery cells will grow more than 20 per cent every year in the electric vehicle (EV) market.

On November 2, Samsung SDI held a conference call after third-quarter earnings announcement and said, "The EV cylindrical battery cell market was 75GWh this year. And it is expected to expand to 170-180GWh between 2025 and 2026."

"Samsung SDI's cylindrical battery cell sales significantly increased from last year due to strong sales of the 2170 model," said an official from Samsung SDI. "Cylindrical battery cells for EV will grow to more than 20% next year with increased EV volume and various new projects."

Regarding the shortage of semiconductors, he said, "It has lasted longer than we expected," and that, "But global automakers are applying semiconductors to EV first rather than internal combustion engine vehicles to comply with carbon dioxide regulations and preoccupy the EV market. Thus, EV production is less affected by the supply chain disruptions."

He added, "We are striving to achieve an annual surplus in automobile battery cells by responding to changing market conditions based on close coordination with clients, with expanding new EV battery cells that began to be mass-produced in the third quarter from the fourth quarter." (ANI/Global Economic)

( With inputs from ANI )

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