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Tramway News: According to foreign media reports, South Korean battery manufacturer Samsung SDI stated on July 27th that due to its low base effect and strong sales of electric vehicle batteries, the company's revenue increased nearly fivefold in the second quarter of this year.

Samsung SDI stated in a regulatory document that from April to June this year, the company's net profit reached 288.3 billion won (approximately $250.5 million), up from 47.7 billion won in the same period last year. In addition, the company's operating profit increased by 184.4% year-on-year to 295.2 billion Korean won; Sales increased by 30.3% year-on-year to 3.3 trillion won.

Samsung SDI stated that the company's medium and large batteries, as well as energy storage systems (ESS), have driven an overall increase in sales, offsetting the impact of weak performance in the electronic materials business. The company stated in a statement: "Due to the increase in sales in the European market, electric vehicle batteries have enhanced their profitability and achieved profitability in the second quarter. Driven by large projects in the United States, sales of ESS products have also seen an increase

According to a research report by SNER Research, from January to May 2021, Samsung SDI has become the world's third largest battery manufacturer with a market share of 10.1%. Currently, Samsung supplies lithium batteries to Audi E-Tron, Fiat 500 series, and Ford Kuga, which have been selling well in overseas markets this year.

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