Samsung Increases Investments in China and Indonesia

      August 19, 2014 09:55

      Samsung SDI said on Monday that it has broken ground on its electric car battery plant in Xian, Shaanxi Province. Samsung Electronics also said it plans to build a mobile phone factory in Indonesia.

      Samsung SDI broke ground with 300 people, including Chinese government officials and auto industry leaders, in attendance. The plant will open in October next year with an annual production capacity of 40,000 batteries.

      The company said it will invest a total of US$600 million in China by 2020.

      Xian is also home to the world’s largest NAND flash memory chip plant owned by Samsung Electronics, which invested $7 billion for the construction, making the city a strategic base for Samsung’s Chinese market.

      Samsung Electronics plans to expand investments in Indonesia as well. It has made a proposal to build a mobile phone factory to the Indonesian government, with a view to starting construction before the end of the year.

      The company is considering building the factory in Cikarang, where its consumer electronics plant is. The factory will be used to assemble components from Vietnam, making inexpensive mobile phones for the local market.

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