Shulou(Shulou.com)11/24 Report--

On October 31, Samsung SDI, a battery manufacturer owned by Samsung, has announced that it has concluded a seven-year battery supply agreement with Hyundai to supply batteries to Hyundai's electric vehicles for the European market from 2026 until 2032. The batteries will be produced by Samsung SDI's factory in Hungary.

Samsung SDI also announced that the seven-year supply agreement with Hyundai was the first electric vehicle battery supply agreement signed by the two companies. This means that Samsung SDI has not previously supplied Hyundai with batteries for electric cars.

Some foreign media also disclosed in the report that the batteries currently used by Hyundai are supplied by LG New Energy and SK On, and they are only purchased from these two Samsung SDI competitors. After signing a supply agreement with Samsung SDI, South Korea's three major battery manufacturers will be Hyundai's electric vehicle battery suppliers.

According to the report of the research institute, Samsung SDI, LG New Energy and SK On, the three major South Korean battery manufacturers, are all the world's top electric vehicle battery suppliers.

In the first eight months of this year, LG New Energy, SK On and Samsung SDI electric vehicle batteries were installed in 60.9GWh, 21.7GWh and 17.6GWh, respectively, making it the world's third, fifth and seventh largest supplier of electric vehicle batteries during this period, with three companies accounting for more than 20 per cent, according to the research institute.

As the major manufacturers have made great efforts to develop electric vehicles, the global demand for electric vehicle batteries will be increasing in the future. Manufacturers such as LG New Energy and Samsung SDI will have greater development opportunities. They have also obtained a large number of orders and set up factories in North America and Europe.

Welcome to subscribe "Shulou Technology Information " to get latest news, interesting things and hot topics in the IT industry, and controls the hottest and latest Internet news, technology news and IT industry trends.