Samsung SDI and Hyundai Motor reach battery supply agreement, first cooperation

News on October 23, South Korean battery manufacturing giant Samsung SDI announced that it will enter into a seven-year electric vehicle (EV) battery supply cooperation with Hyundai Motor starting in 2026, marking the first time that the two companies have reached a battery supply agreement.

According to the editor’s understanding, this latest supply agreement represents the first cooperation between Samsung and Hyundai Motor Group in the field of electric vehicle batteries. Samsung SDI It is a leading manufacturer of batteries for well-known automakers such as General Motors, Stellantis, and BMW. According to the statement, they will provide prismatic batteries from the Hungarian factory for Hyundai Motor Company's European market electric vehicles, and the supply contract will last until 2032.

Although the two parties have officially cooperated, Samsung SDI The specific transaction size of this battery supply agreement was not disclosed. This cooperation means that Hyundai Motor will further expand its supply chain in the electric vehicle market to meet the growing demand for electric vehicles.

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