Oct 23, 2023

Samsung SDI to supply EV batteries to Hyundai Motor starting 2026

Posted by in categories: sustainability, transportation

SEOUL, Oct 23 (Reuters) — South Korea’s Samsung SDI (006400.KS) said on Monday it will supply Hyundai Motor (005380.KS) with electric vehicle (EV) batteries for seven years starting 2026, marking the first battery supply deal between the two companies.

“The latest supply deal marks the first ever partnership between Samsung and Hyundai Motor Group in the field of electric vehicle batteries,” Samsung SDI said in a statement.

The battery maker, which supplies to General Motors Co (GM.N), Stellantis (STLAM.MI), and BMW (BMWG.DE) among others, added that it will supply prismatic batteries manufactured at its factory in Hungary for Hyundai Motor’s EVs targeting the European market from 2026 through 2032.

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