Samsung SDI said its latest battery plant in China, the Xi'an plant, is built and already selling products to major customers in the country.
"Among other global battery suppliers, Samsung SDI was the first to complete a battery plant in China," the company said in the statement.
Those 'major customers' are in fact car manufacturers building electric vehicles, a young and promising industry in the most populated country in the world. Among its customers are Yutong, the world's top bus manufacturer, and Foton, China's biggest truck producer.
The Xi’an plant will be jointly operated by two companies, Samsung SDI said. "The number of SDI's battery clients in China increased to 10," it said.
The company wants to invest another $600 million (£387m) by 2020, and aims to have $1 billion sales by that time (650m), quite an ambitious goal.
“The company will try to achieve it”, Samsung SDI spokesperson said.
China will become the single biggest market in electric vehicles, Korea Times says. “SDI expects the country to take up more than 10 per cent of the global EV demand as the Chinese government drives initiatives to cut carbon emissions and pushes more eco-friendly business projects.”
Before 2020, the country will build more than five million charging stations to boost the transition from internal-combustion engine-based cars, to electric vehicles.
Demand for EVs will rise to 6.3 million by 2020 from 2.2 million in 2014 with China taking a bigger role. In 2013, some 19,000 EVs had been sold. However, the number of sales rose by 400 percent to 80,000 last year and will rise to 160,000 this year.