Hyundai & Samsung SDI ink supply deal for EV batteries
Samsung SDI has clinched a supply deal for electric vehicle batteries with Hyundai Motor Company for the first time.
Samsung SDI said that it will supply prismatic batteries for Hyundai Motor’s electric vehicles targeting the European market for seven years, more specifically from 2026 through 2032.
This is the first-ever partnership between the companies 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 the expansion of the partnership.
It is expected that the partnership will enable Hyundai Motor to diversify battery form factors through the supply of prismatic batteries. For the automaker, the deal would provide a chance to increase the adoption of prismatic batteries, a press release reads.
The two companies also plan to continue their partnership, researching next-generation battery platforms.
The batteries to be supplied for Hyundai Motor will be the sixth edition of Samsung SDI’s prismatic battery, P6. The batteries feature a 91% nickel-high NCA cathode and Samsung SDI’s silicon-based anode. These P6 batteries will be manufactured at Samsung SDI’s plant in Hungary and supplied to Hyundai Motor’s production facility in Europe.