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Samsung SDI to provide electric vehicle batteries to Hyundai Motor beginning in 2026, according to Reuters.

Samsung SDI to Supply EV Batteries to Hyundai Motor Starting 2026

Samsung SDI and Hyundai Motor Announce Historic Battery Supply Partnership

In a landmark deal, South Korea’s Samsung SDI and Hyundai Motor have joined hands to secure a seven-year battery supply agreement for electric vehicles (EVs) starting in 2026. This collaboration marks the first-ever partnership between the two companies in the EV battery sector.

Prismatic Batteries for Hyundai Motor’s European EVs

Samsung SDI will provide prismatic batteries, manufactured at its Hungarian factory, to Hyundai Motor for their EVs targeting the European market from 2026 to 2032. Although the size of the deal remains undisclosed, industry insiders estimate that Samsung SDI’s batteries could power approximately 500,000 EVs over the next seven years.

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Continued Expansion of Samsung SDI’s Battery Production

Earlier this month, Samsung SDI announced plans to invest $2 billion in constructing a second joint EV battery plant with Stellantis in Indiana, USA. This facility aims to commence production in 2027 and further strengthen Samsung SDI’s position in the global EV battery market.

Positive Market Response

Shares of Samsung SDI experienced a 0.3% increase, outperforming the benchmark’s 0.1% decline as of 0203 GMT.

(Note: The exchange rate is $1 = 1,351.8200 won)

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