2023-10-23 06:07:10
Samsung SDI battery installed for the first time in Hyundai vehicles
Supply of 500,000 units in Europe for 7 years
Signed with all three companies including LG Ensol and SK On
Diversification of form factors by adopting prismatic batteries
The opportunity to meet Chairman Lee Jae-yong and Chairman Chung Eui-sun
Expanding cooperation following displays and semiconductors
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Samsung SDI P6 square battery. Photo provided by Samsung SDI
Samsung SDI (006400) financial analysischart areaView Detailsand Hyundai Motor Group signed an electric vehicle battery supply contract for the first time. The scope of cooperation between the two groups has expanded to batteries, following battlefields such as semiconductors, and some say that the future car alliance has begun in earnest.
Samsung SDI Hyundai Motors (005380) financial analysischart areaView Detailsannounced on the 23rd that it will supply batteries for electric vehicles to be produced in Europe for seven years from 2026 to 2032. The supply quantity is said to be equivalent to 500,000 electric vehicles.
Through this contract, Samsung SDI will supply the 6th generation prismatic battery ‘P6’, which is currently in the development stage, to Hyundai Motor Company. P6 is a product that maximizes energy density by increasing the proportion of nickel in the nickel, cobalt, aluminum (NCA) anode material to 91% and applying proprietary silicon material to the cathode material. The P6 is produced at Samsung SDI’s Hungary plant and delivered to Hyundai Motor Company’s European plant.
This is the first time that Samsung SDI and Hyundai Motor Group have signed an electric vehicle battery supply contract. Hyundai Ioniq 5, Kia (000270) financial analysischart areaView Details EV6·EV9, Genesis GV60·GV70, etc. are equipped with SK On batteries, and Hyundai Motor Company’s Kona EV and Ioniq 6 are equipped with SK On batteries. LG Energy Solution (373220) financial analysischart areaView Detailsbatteries were used. With this contract, Hyundai Motor Company signed battery supply contracts with all three domestic battery companies.
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Samsung SDI Hungary factory. Photo provided by Samsung SDI
It also means that Hyundai Motors, which mainly used pouch-type batteries, has begun to diversify its form factor by using square batteries. The form factor refers to the structural shape of the battery pack and is largely divided into pouch type, square shape, and cylindrical shape. The prismatic batteries that Samsung SDI primarily produces are highly durable and more stable than other batteries. This is why major automobile manufacturers such as Mercedes-Benz, BMW, Audi, Porsche, and Volkswagen are adopting prismatic batteries.
An official from Hyundai Motors explained, “We are pursuing differentiation of marketability by vehicle type and region by diversifying cell form factors such as square and cylindrical in addition to the main pouch type.”
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Samsung Electronics Chairman Lee Jae-yong (left) and Hyundai Motor Group Chairman Chung Eui-sun meet and shake hands at the New Year’s party held at the Grand Hall of the Korea Federation of Small and Medium Businesses in Yeouido, Seoul on January 2, 2019. yunhap news
The battery collaboration between the two parties began 3 years ago with Jaeyong Lee. Samsung Electronics (005930) financial analysischart areaView Details The meeting between the chairman and Hyundai Motor Group Chairman Chung Eui-sun became the opportunity. Chairman Chung visited Samsung SDI’s Cheonan plant and toured the electric vehicle battery production site with Chairman Lee and exchanged opinions on the business. Afterwards, the two sides continued to engage in battery-related exchanges and reportedly reached a contract conclusion.
As Samsung and Hyundai Motor Group have increased their level of cooperation in the electronics business, this contract is expected to accelerate the future car alliance between the two sides. Following Samsung Display’s supply of organic light-emitting diode (OLED) displays to Hyundai Motor Company’s IONIQ 5, the Genesis GV60 was equipped with Samsung Electronics’ automotive image sensor, marking the start of cooperation between the two groups. Afterwards, collaboration accelerated as Samsung Electronics supplied semiconductor application processors (APs), which serve as the brains of automobiles, to Hyundai Motors. Samsung Electro-Mechanics (009150) financial analysischart areaView Detailshas recently been directly supplying two types of cameras to Hyundai and Kia vehicles.
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