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First Supply Deal for Electric Vehicle Batteries
Samsung SDI to supply prismatic batteries for Hyundai Motor’s electric vehicles targeting Europe for 7 years starting from 2026
P6 batteries featuring maximized energy density to be manufactured at Samsung SDI’s Hungary plant for Hyundai suppliesCEO highlights significance of taking the first step forward with Hyundai Motor, vowing to support the customer to enhance its global market leadership through long-term partnership with Samsung SDI
SEOUL, Korea – October 23, 2023 – Samsung SDI today announced the company has clinched a supply deal for 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 for seven years from 2026 through 2032.The latest supply deal marks the first ever partnership between Samsung and Hyundai Motor Group in the field of electric vehicle batteries.
By clinching the deal, Samsung SDI has secured Hyundai Motor as a new customer, while gaining 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 through the supply of prismatic batteries. 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.
The batteries to be supplied for Hyundai Motor will be the sixth edition of Samsung SDI’s prismatic battery, named as “P6.”
P6 features 91% nickel-high NCA cathode and Samsung SDI’s proprietary silicon-based anode, maximizing energy density to the highest level. P6 batteries will be manufactured at Samsung SDI’s Hungary plant and supplied 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 by expanding long-term partnership with the automaker by providing the customer with unrivalled technologies and supreme quality.”About Samsung SDI
Samsung SDI, headquartered in the Republic of Korea, is a world-leading battery and electronic material manufacturer redefining the worlds of electric vehicles, energy storage systems and IT devices. The company drives transformation and innovation to emerge as a ‘Creative Energy and Materials Solution Leader’ across the fields of e-mobility, energy solutions, as well as semiconductors and displays. The company commits to sourcing 100% renewable electricity across its entire global operations by 2050. For the latest news, please visit the Samsung SDI News at https://www.samsungsdi.com/sdi-news/list.html.
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