Asian Tech Press (Dec 08) -- Samsung SDI, a battery maker owned by Samsung Group, said it had appointed Samsung Electronics Chief Financial Officer (CFO) Choi Yoon-ho as its new Chief Executive Officer (CEO), and current CEO Jun Young-hyun will be promoted to vice chairman of Samsung SDI and chairman of the board.

The new CEO will need to be approved at Samsung SDI's upcoming shareholders' meeting.

In addition, Samsung Electro-Mechanics appointed former Samsung Systems LSI Executive Vice President Jang Deok-hyun as the new CEO, while outgoing CEO Kyehyun Kyung was appointed as CEO of Samsung Electronics' chip division.

Samsung SDI is the battery maker of the Samsung Group, which has electric vehicle battery plants in South Korea, China, Malaysia, and Hungary. The company's customers include Ford, BMW, Volvo, Volkswagen, and others.

In October, automaker Stellantis and Samsung SDI announced that the two companies had entered into a memorandum of understanding to form a joint venture to produce electric vehicle batteries and modules in the United States.

In August, it was reported that Samsung SDI had won a contract from Volkswagen to produce batteries for electric cars. The company will be responsible for part of VW's self-designed Unified Prismatic Cell production, people familiar with the matter said.