Samsung SDI records robust sales of EV batteries in Europe for Q2 2019

30 July 2019, 08:30:44

Samsung SDI announced that its Q2 net profit has increased by 53% YoY to 160.2 billion won (US$135 million) due to the jump in sales of mid- and large-sized batteries. All sales increased by 6.9% YoY to 2.4 trillion won and operating profit increased by 2.9% YoY to 157.3 billion won. The battery business of Samsung SDI was the main booster with 1.8 trillion won of sales, up 5.3% from a year ago. It has been driven by robust sales of EV batteries in Europe and energy storage systems in the United States. Samsung SDI expects an even stronger second half of the year with the launch of plenty of new electric vehicles.

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