Samsung SDI invests 808 billion won in battery R&D in 2020

Samsung SDI Co. spent a record high of 808.3 billion won in research and development last year to develop advanced battery technologies.

The amount accounted for 7.2 percent of Samsung SDI's 2020 sales.

South Korea's No. 2 battery maker has been trying to create rechargeable batteries for electric vehicles (EV) that are cheaper, more durable, and charge faster.

The company has also been developing technologies for energy storage systems (ESS) and advanced materials for IT products, including semiconductors, displays, and mobile devices.

Led by solid demand for EV batteries, Samsung SDI's sales soared 11.9 percent on-year to 11.3 trillion last year, while its operating profit surged 45.3 percent to 671.3 trillion won.

Samsung SDI, which anticipates increased revenue from the EV battery and ESS markets this year, will begin mass production of the next-generation Gen. 5 EV battery in the second half to address the growing demand for higher energy density lithium-ion batteries.