Samsung, Hyundai ink first EV battery deal
简介Samsung SDI said Monday it has clinched a deal to supply electric vehicle batteries for Hyundai Moto ...
Samsung SDI said Monday it has clinched a deal to supply electric vehicle batteries for Hyundai Motor Group – the first battery partnership between the two chaebol groups.
Under the deal, Samsung SDI will supply prismatic batteries produced at its Hungary plant for Hyundai EVs made in Europe for seven years, from 2026 through 2032.
Although the exact size of the deal was not disclosed immediately, industry sources predict that Samsung SDI could supply batteries to power up to 500,000 high-performance EVs.
The nickel, manganese and cobalt, or NCM, battery product, dubbed “P6,” is the sixth-generation prismatic battery under development. It boasts high energy density based on 91 percent nickel in cathode and silicon-based anode materials, Samsung SDI said.
A Hyundai Motor official declined to further elaborate, saying, “Specific EV models to be equipped with Samsung-made batteries have not yet been decided.”
The megadeal comes after a meeting between Samsung Electronics Chairman Lee Jae-yong and Hyundai Motor Group Executive Chair Chung Euisun in 2020 at Samsung SDI’s battery plant in South Chungcheong Province.
At the time, Lee invited Chung to the production site and the two leaders reportedly discussed using Samsung SDI batteries for Hyundai and Kia EVs.
The world’s third-largest automaker has used batteries from LG Energy Solution and SK On, which are among the nation’s top three battery makers. It has mostly installed pouch-shaped batteries in its electric cars rather than prismatic ones – a key product for Samsung SDI.
Samsung-made batteries will allow Hyundai to diversify its battery and EV portfolios, the company said.
Samsung SDI and Hyundai also plan to bolster their partnership in developing the next-generation battery platform for electric cars.
“We have taken the first step towards a strategic partnership with the global auto giant Hyundai Motor Group,” said Samsung SDI CEO Choi Yoon-ho in a statement. “With Samsung SDI’s ‘super-gap’ technology and high-quality product, we will further expand our partnership and make our best efforts to strengthen Hyundai’s leadership in the world’s EV markets.”
This is a rare business partnership between the chaebol rivals. Since Samsung ditched its car manufacturing business in the late 1990s, the two groups had maintained friendly ties as they avoided entering the other's key business areas.
Their rivalry seemed to be reviving in the burgeoning mobility sector more recently, but they are increasingly teaming up rather than locking horns. In June this year, they also announced their first-ever automotive partnership on chips.
"12.12: The Day," a historical film depicting South Korea's military coup in 1979, surpassed 4 ...
The Financial Supervisory Service, South Korea's primary financial regulatory body, has issued ...
9월 셋째 주 주요뉴스 키워드는 #통계조작 #조국 #최강인 의원직상실 #정유정 계획범죄 인정 #세수 펑크 #이재명 체포동의안 가결 #미국ㆍ이란 수김자 맞교환 #윤 대통령 UN총회 ...
KT CEO carries out first organizational revamp
FSS issues advisories to fisheries cooperatives federation for W50b investment loss
합의문도 없는 희한한 북·러 정상회담…결국 비즈니스 관계였나
야당 29명 반란, 이재명 방탄 뚫렸다
[Global Finance Awards] Going global essential in era of digital finance
[이번 주 리뷰]美 Fed 기준금리 동결…이재명 체포동의안 가결(18~23일)
- Seoul shares open almost flat amid geopolitical tensions, rate woes
- PPP appoints naturalized Korean doctor Yohan Ihn as party innovation committee chief
- Samsung unveils next
- “가자주민 삶 최악…한국지원 절실”
- Seoul shares open lower on US losses
- Seoul shares open lower on US losses
- Kangwon Land's wellness facilities offer quiet retreat
- Three bidders vie for major stake in news channel YTN
- Employment in manufacturing sector in Q3 falls at fastest pace in 11 quarters
- GS Group, SNU to run incubator program for startups
- Seoul shares end higher on tech gains, Fed comments
- LS Cable inks partnership for Vietnam submarine cable market
- 한 경기도 안 뛰고 병역 면제?…국감 오른 아시안게임 '병특'
- 기세 올린 이재명 체제…이번엔 한동훈 겨냥 공세 집중
- 야당, 김행 사퇴에 “사필귀정…사법적 판단 받아야”
- Political parties call for revision of military exemptions for athletes
- BOK wins lawsuit on face of Korea's 100 won coin
- Samsung owns largest No. of Israeli subsidiaries among S. Korean conglomerates: report
- 28th BIFF comes to an end
- 尹지지율 긍정 33%·부정 58%…"명절 기간 물가 등 경제난 체감"
- [Herald Interview] Alex Olle’s realistic reimagination of opera ‘Norma’ keeps art form alive
- Igis launches $100m secondary fund for overseas investment
- 대통령실 “UAE 대통령 방한 순연”…이스라엘·하마스 충돌 영향
- Gwanghwamun's 'woldae' to be unveiled this week after restoration
- Conflict between Fifty Fifty and agency Attrakt continues to escalate
- PM visits Greece for talks on cooperation, World Expo bid campaign
- P&G Korea launches premium diaper to combat skin dryness
- KT & G to build new tobacco plant in Kazakhstan
- Korean economy expected to grow by 2.1% in 2024: Hana Institute
- New US special envoy for N. Korean human rights issues takes office, plans to visit Seoul next week