Monday, July 15, 2024

Samsung SDI Inks Seven-Year EV Battery Deal with Hyundai Motor Starting 2026

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Samsung SDI announced on Monday its groundbreaking agreement with Hyundai Motor , in which it will provide the automotive giant with electric vehicle (EV) batteries for a period of seven years, commencing in 2026. This remarkable accord marks the first-ever collaboration between Samsung and Hyundai in the realm of electric vehicle batteries, ushering in a new era of innovation and sustainability.

In a statement released by Samsung SDI, the battery manufacturer, renowned for its contributions to industry titans such as General Motors, Stellantis, and BMW, revealed its commitment to supplying prismatic batteries manufactured at its state-of-the-art facility in Hungary. These high-quality batteries will be tailored to power Hyundai Motor’s electric vehicles, specifically targeting the European market from 2026 through 2032.

While the precise scope of this historic deal remains undisclosed by both Samsung SDI and Hyundai Motor, industry insiders speculate that it has the potential to fuel approximately 500,000 electric vehicles over the course of the next seven years. This significant partnership not only reinforces the growing synergy between tech giants and automakers but also bolsters the vision for a sustainable and electrified future.

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