Samsung SDI Secures First EV Battery Supply Deal With Mercedes-Benz for Next-Generation Electric SUVs

South Korean battery manufacturer Samsung SDI has signed a multi-year supply agreement with Mercedes-Benz, marking the first time the two companies have entered into an electric vehicle (EV) battery partnership, news agency Reuters has reported.

Under the deal, Samsung SDI will supply high-nickel NCM cells, combining nickel, cobalt and manganese, to power the next generation of Mercedes-Benz electric vehicles. According to a statement from the South Korean firm, the batteries are destined for use in forthcoming compact and mid-size electric SUVs as well as coupé models from the German marque.

Samsung SDI did not disclose the financial value of the contract, the report added.