Samsung SDI Signs $3.2 Billion Lithium-Ion Battery Deal With BMW Group

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  • BMW and Samsung SDI first teamed up to develop electric vehicles in 2009
  • Samsung SDI had started mass production of lithium-ion battery for electric cars in its plant in Ulsan in South Korea in 2013

According to a report by Pulsenews, South Korea’s Samsung SDI has signed a 10-year contract with Germany’s BMW Group to supply $3.2 billion worth lithium-ion battery cells to BMW. The car maker will release 25 new green car models by 2025. BMW and Samsung SDI first teamed up to develop electric vehicles in 2009.

The report said that this deal between the two companies is an extension of their partnership in the development of battery-powered vehicles that started 10 years ago. In 2013, BMW’s electric car model i3 was powered by Samsung SDI.

Global battery manufacturing bases in China, Hungary

The two companies also signed a new business agreement to establish mid- and long-term partnership in the same year. Under this partnership, the two companies have been developing next-generation materials and electric vehicle technology.

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To expand its EV base, Samsung SDI built global battery manufacturing bases in Xian, China in 2015, and Hungary in 2017. It had started mass mass production of lithium-ion battery for electric cars in its plant in Ulsan in South Korea in 2013.

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