Hyundai Motor may purchase electric vehicle batteries from Samsung SDI

On January 4, Hyundai Motor stated that it has selected Samsung SDI and SK Innovation as the final battery supplier candidates, or will supply batteries for its electric vehicles launched in 2023. Ioniq series (: Hyundai) According to foreign media reports, on January 4, Hyundai Motor stated that it has selected Samsung SDI and SK Innovation as the final battery supplier candidates, or will supply batteries for its electric vehicles launched in 2023. Currently, South Korea's largest automaker, Hyundai Motor, is purchasing the third batch of batteries for its electric vehicles built on the E-GMP platform. The E-GMP platform is modernly designed and dedicated to building electric vehicles. The battery can be installed under the center of the body instead of in the engine compartment. Hyundai will finalize the third batch of battery orders for its electric SUV model Ioniq7 this month, valued at 25 trillion won (approximately US$23.1 billion). Due to the large order volume, the company is expected to choose at least two suppliers. According to industry sources, Samsung SDI and SK Innovation are at the same level in terms of pricing and product quality, and are equally competitive. Hyundai may also sign some orders with LG EnergySolution (the former LG Chem battery division). If Samsung SDI succeeds in winning the order, this will be the first battery supply contract between Hyundai and Samsung SDI. In addition, the two companies are also expected to expand the scope of cooperation in the automotive industry, possibly on semiconductors in autonomous vehicle technology. Hyundai and Samsung SDI declined to comment on the nickel content in the third batch of batteries. South Korean industry experts predict that Hyundai will establish a strong alliance with South Korea's Samsung SDI, SKInnovation and LG EnergySolution, three major electric vehicle battery manufacturers to help it compete fiercely with overseas rivals. (: pulsenews) The first batch of batteries used in models built on the E-GMP platform will be supplied by SKInnovation, and the second batch will be supplied by LG EnergySolution and China's CATL. The battery values u200bu200bare 10 trillion won and 16 trillion won, respectively. On January 4, when the news came out, Samsung SDI's share price soared 6.85% to 671,000 won (approximately US$620.09) per share, and SKInnovation's share price rose 21.58% to 231,000 won per share. According to South Korea’s SNEResearch report, in the global electric vehicle battery market as measured by sales from January to November 2020, LG EnergySolution ranks second with a market share of 22.6%; Samsung SDI ranks fourth with a market share of 5.8%; SKInnovation ranks No. Five, with a market share of 5.5%.