Samsung SDI & Hyundai Ink Historic EV Battery Deal

In a historic collaboration, South Korean conglomerates Samsung and Hyundai have joined hands for electric vehicle batteries.

Samsung's battery arm, Samsung SDI, has signed a 7-year deal starting 2026 to supply prismatic batteries to Hyundai Motors for its electric cars in Europe. This marks the first major partnership between the two rivals who have traditionally competed in consumer electronics and automobiles respectively.

The financial details remain undisclosed, but Samsung had earlier announced plans to invest $2.3 billion in EV batteries. With this deal, Hyundai joins GM, Stellantis and BMW among Samsung's elite clients.

The batteries will be manufactured at Samsung's facility in Hungary and supplied to Hyundai for its Europe-bound EVs between 2026-2032. They will use Samsung's next-gen P6 battery with high nickel NCA cathode and silicon anode offering industry-leading energy density.

Samsung SDI already operates a battery plant in US and has tied up with Stellantis to meet the latter’s needs as it electrifies brands like Jeep and Dodge.

Alongside LG Energy and China's CATL, Samsung aims to be a global leader in auto batteries. Hyundai Motor Group, which also owns Kia and Genesis, is the world’s third largest automaker. The two Korean majors also plan to collaborate on R&D for next-gen batteries.