SEOUL, Korea – October 23, 2023 – Samsung SDI announced the company has clinched a deal to supply electric vehicle batteries with Hyundai Motor Company for the first time.
Samsung SDI said, the company will supply prismatic batteries for Hyundai Motor’s electric vehicles targeting the European market. Moreover, this supply will continue for seven years from 2026 through 2032.
The latest supply deal marks the first ever partnership between Samsung and Hyundai Motor Group. Furthermore, the focus of this collaboration on the field of electric vehicle batteries.
By clinching the deal, Samsung SDI has secured Hyundai Motor as a new customer. Samsung SDI gains additional growth momentum in line with expansion of the partnership.
It is expected that the partnership would enable Hyundai Motor to diversify battery form factors. Moreover, for the automaker, the deal would provide a crucial chance for increasing adoption of prismatic batteries.
The two companies plan to continue their partnership for leading research on next-generation battery platforms.
Samsung SDI’s sixth edition prismatic battery, named as ‘P6,’ will supply the batteries for Hyundai Motor.
P6 features 91% nickel-high NCA cathode and Samsung SDI’s proprietary silicon-based anode, maximizing energy density to the highest level. Samsung SDI’s Hungary plant will manufacture P6 batteries and supply them to Hyundai Motor’s production facility in Europe.
“We have taken the very first step forward with Hyundai Motor Company that is leading the global automobile industry,” said Yoon-ho Choi, president and CEO of Samsung SDI. “The company will make best efforts to help Hyundai Motor reinforce its global market leadership. Moreover, the company aims to expand its long-term partnership with the automaker, providing customers with unrivalled technologies and supreme quality.”
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