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**Hyundai and Samsung Join Hands to Electrify the Future**
The electric vehicle (EV) market is currently in overdrive, and Hyundai Motor Company is making substantial strides to cement its presence in this electrifying landscape. In a groundbreaking move, Hyundai has entered into a strategic partnership with Samsung SDI, a subsidiary of the renowned Samsung Group, celebrated for its advanced battery technology. This partnership, spanning an impressive seven years from 2026 to 2032, marks a historic milestone as the first-ever battery supply agreement between these automotive and tech giants.
The foundation of this collaboration lies in Samsung SDI's commitment to providing Hyundai with electric vehicle batteries that will be produced at its state-of-the-art Hungarian facility. These batteries, named P6, are the sixth-generation prismatic batteries from Samsung, distinguished by their innovative composition, which includes nickel, cobalt, and manganese (NCM) in their chemistry. However, what truly sets the P6 batteries apart is their exceptional fast-charging capabilities. Vehicles equipped with P6 batteries can ...
... reach an astounding 80% charge in just 10 minutes, a pivotal breakthrough addressing a major concern in the widespread adoption of electric vehicles.
While the exact scale of this momentous agreement remains undisclosed, industry insiders estimate that the batteries provided under this partnership will power approximately 500,000 Hyundai EVs throughout the seven-year collaboration. Samsung SDI is already a notable supplier of electric vehicle batteries to several industry giants, including Stellantis, General Motors, and BMW. Notably, Samsung SDI and Stellantis have unveiled ambitious plans to invest around $2 billion in the construction of a shared EV battery plant in Indiana, USA, with production slated to commence in 2027. This underscores the automotive industry's dramatic shift towards electrification and underscores the pivotal role of cutting-edge battery technology in this transition.
Yoon-ho Choi, President and CEO of Samsung SDI, underlined the immense significance of this partnership, marking Samsung SDI's initial stride forward with Hyundai, a global automotive leader. He emphasized Samsung's unwavering commitment to empowering Hyundai in reinforcing its global market leadership by delivering avant-garde technologies and uncompromised quality in the form of these advanced batteries.
On Hyundai's side of the agreement, it has been disclosed that specific EV models to be equipped with Samsung-made batteries have not been finalized. This underscores Hyundai's adaptable approach, signaling its intent to incorporate these advanced batteries across a spectrum of its electric vehicles, enhancing their performance and competitive edge.
Beyond the battery supply deal, Hyundai is actively involved in a slew of other pioneering initiatives within the EV and mobility sector. Foremost among these is an agreement with the Korea Automotive Technology Institute (KATECH), Air Products Qudra (APQ), and the Saudi Public Transport Company (SAPTCO) to pioneer a hydrogen-based mobility ecosystem in Saudi Arabia. This collaborative venture encompasses technological backing, research opportunities, and the supply of hydrogen fuel cell commercial vehicles to SAPTCO.
Furthermore, Hyundai has entered into a strategic partnership with the Public Investment Fund (PIF) to establish a highly automated vehicle manufacturing plant in Saudi Arabia. This visionary project, valued at over $500 million, is slated to commence development in 2024 and initiate production in 2026, with the objective of manufacturing 50,000 vehicles annually, encompassing both internal combustion engines (ICE) and electric vehicles (EVs).
In summary, the strategic partnership between Hyundai and Samsung SDI in electric vehicle battery supply symbolizes a remarkable milestone in the ever-evolving EV market. This collaboration is poised to elevate the charging capabilities and overall competitiveness of Hyundai's EVs, contributing to the proliferation of electric mobility. Simultaneously, it underscores Hyundai's commitment to exploring diverse facets of the global mobility landscape, from cutting-edge battery technology to hydrogen-based solutions and advanced manufacturing. As the electric vehicle market continues its metamorphosis, partnerships and investments of this nature will undoubtedly be instrumental in shaping the industry's future.
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