Samsung SDI 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 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 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 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.”