Samsung SDI enters into an electric vehicle battery supply deal with Hyundai Motor Group. Samsung SDI and Hyundai Motor Group are reportedly set to enter an electric vehicle battery deal that will have Samsung's prismatic batteries supplied from 2026 to 2032 for Hyundai's targeted European market.
SEOUL (Reuters) -South Korea's Samsung SDI said on Monday it will supply Hyundai Motor 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, Stellantis, BMW among others, added that it will
Jeep maker Stellantis says it will build a second electric vehicle battery factory in Kokomo, Indiana, that will create 1,400 new jobs. The $3.2 billion joint venture plant with South Korea's Samsung SDI is to start production early in 2027. Construction already is underway on the companies' first joint venture factory in Kokomo, which is scheduled to open early in 2025.