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market","samsung-and-hyundais-first-battery-deal-targets-european-market","article/samsung-and-hyundais-first-battery-deal-targets-european-market",{"_uid":547,"date":548,"tags":549,"editor":556,"content":566,"excerpt":713,"featured":50,"reporter":714,"_editable":718,"component":719,"seo_title":543,"categories":720,"visibility":727,"author_company":49,"featured_image":728,"seo_description":713,"author_full_name":49,"author_job_title":49,"formattedDate":733,"formattedArticleDate":734},"4fa5eafd-42d2-456e-a930-df801697f671","2023-10-26 00:00",[550,553],{"slug":551,"name":552},"hyundai","Hyundai",{"slug":554,"name":555},"samsung","Samsung",[557],{"slug":558,"name":559,"content":560},"didi-bostock","Didi Bostock",{"job_title":561,"image":562,"bio":564,"linkedin":565},"Editor - Energy Transition & Economics",{"filename":563},"https://a.storyblok.com/f/287943243085208/512x512/2c5ca5c1a3/didi-bostock.jpeg","Didi is the Energy Transition & Economics Editor at Benchmark, covering a broad range of markets across the energy transition. His remit spans from downstream sectors such as BESS and EVs, through to midstream such as new technologies and battery production, to upstream critical minerals mining. He also leads on financial analysis across these supply chains, alongside in-depth policy analysis.\n","https://www.linkedin.com/in/didi-bostock-656342198/",{"type":567,"content":568},"doc",[569,576,591,596,609,619,642,651,656,663,668,673,678,683,688,693,698,703,708],{"type":570,"attrs":571,"content":572},"paragraph",{"textAlign":49},[573],{"text":574,"type":575},"Samsung SDI will supply Hyundai Motor with high nickel electric vehicle (EV) batteries for seven years starting from 2026, the first ever partnership in the EV space between the two South Korean companies. ","text",{"type":570,"attrs":577,"content":578},{"textAlign":49},[579,581,589],{"text":580,"type":575},"The prismatic battery cells will be made at Samsung’s factory in Hungary, forecast to supply 16.9% of Europe’s total cell supply in 2023, according to ",{"text":582,"type":575,"marks":583},"Benchmark’s Lithium ion Battery Database",[584],{"type":585,"attrs":586},"link",{"href":587,"uuid":49,"anchor":49,"target":49,"linktype":588},"https://www.benchmarkminerals.com/forecasts/lithium-ion-batteries/reports/","url",{"text":590,"type":575},". ",{"type":570,"attrs":592,"content":593},{"textAlign":49},[594],{"text":595,"type":575},"The supply will go into Hyundai EVs aimed at the European market, where around 15% of the company’s sales in the region in the first half of 2023 were zero-emission vehicles. ",{"type":570,"attrs":597,"content":598},{"textAlign":49},[599,601,607],{"text":600,"type":575},"Samsung is already supplying German automaker BMW under a ten-year, €2.9 billion ($3.21 billion) deal that began in 2021. It is also party to two US joint ventures: one with ",{"text":602,"type":575,"marks":603},"Stellantis",[604],{"type":585,"attrs":605},{"href":606,"uuid":49,"anchor":49,"target":49,"linktype":588},"https://source.benchmarkminerals.com/article/samsung-confirms-us-battery-race-entry-with-2-5-billion-stellantis-joint-venture",{"text":608,"type":575}," that aims to build two EV battery plants and another with General Motors, which has one plant in the pipeline.",{"type":570,"attrs":610,"content":611},{"textAlign":49},[612,614,618],{"text":613,"type":575},"The company is forecast to contribute 5% of global battery supply this year, according to ",{"text":582,"type":575,"marks":615},[616],{"type":585,"attrs":617},{"href":587,"uuid":49,"anchor":49,"target":49,"linktype":588},{"text":590,"type":575},{"type":570,"attrs":620,"content":621},{"textAlign":49},[622,624,626,632,634,640],{"text":623,"type":575},"“Samsung’s next gen P6 cells,",{"text":625,"type":575},"which utilise high nickel ",{"text":627,"type":575,"marks":628},"cathodes",[629],{"type":585,"attrs":630},{"href":631,"uuid":49,"anchor":49,"target":49,"linktype":588},"https://www.benchmarkminerals.com/forecasts/cathode/reports/",{"text":633,"type":575}," and silicon ",{"text":635,"type":575,"marks":636},"anodes",[637],{"type":585,"attrs":638},{"href":639,"uuid":49,"anchor":49,"target":49,"linktype":588},"https://www.benchmarkminerals.com/forecasts/anode/reports/",{"text":641,"type":575},", will enhance Hyundai’s EV range offerings and competitiveness as well as diversify its battery supply as the market continues to grow rapidly,” said Benchmark analyst Luke Gear.",{"type":570,"attrs":643,"content":644},{"textAlign":49},[645],{"type":646,"attrs":647},"image",{"id":49,"alt":648,"src":649,"title":49,"source":49,"copyright":49,"meta_data":650},"","https://a.storyblok.com/f/287943243085208/33cfd68f76/bm-europe-north-americas-cell-demand.png",{},{"type":570,"attrs":652,"content":653},{"textAlign":49},[654],{"text":655,"type":575},"The deal will also build on the success of Hyundai’s E-GMP electric vehicle platform, which has helped grow its European EV sales at a 30% compound annual growth rate since 2021, said Gear.",{"type":657,"attrs":658,"content":660},"heading",{"level":659,"textAlign":49},4,[661],{"text":662,"type":575},"Samsung targets longer-range EV market",{"type":570,"attrs":664,"content":665},{"textAlign":49},[666],{"text":667,"type":575},"Samsung has claimed its P6 prismatic battery, central to the Hyundai deal, offers a 10% improvement in energy density on its predecessor, the P5. It is scheduled for mass production in 2024.",{"type":570,"attrs":669,"content":670},{"textAlign":49},[671],{"text":672,"type":575},"As well as a 91% nickel NCA cathode, Samsung’s batteries to Hyundai will feature a silicon-based anode that uses its patented composite material combining graphite and ‘nano-sized’ silicon.",{"type":570,"attrs":674,"content":675},{"textAlign":49},[676],{"text":677,"type":575},"In its third quarter 2023 report, the company stated that its EV battery sales had seen record profitability owing mainly to its P5 batteries and an early ramp-up of its Hungarian plant’s new line. ",{"type":570,"attrs":679,"content":680},{"textAlign":49},[681],{"text":682,"type":575},"Samsung has targeted the longer-range EV market as a high growth segment showing resilience even as global auto demand slows. ",{"type":657,"attrs":684,"content":685},{"level":659,"textAlign":49},[686],{"text":687,"type":575},"Partners in battery research",{"type":570,"attrs":689,"content":690},{"textAlign":49},[691],{"text":692,"type":575},"Although the deal marks the first EV battery supply arrangement between the companies, Hyundai and Samsung have already been cooperating over next-generation battery research. ",{"type":570,"attrs":694,"content":695},{"textAlign":49},[696],{"text":697,"type":575},"Both companies are also independently investing in battery R&D. In 2021, the automaker joined Kia and Massachusetts-based Factorial Energy to develop a solid state battery that could be integrated into Hyundai EVs. ",{"type":570,"attrs":699,"content":700},{"textAlign":49},[701],{"text":702,"type":575},"At the same time, Hyundai is collaborating with Seoul National University to develop new battery technologies at the university’s Joint Battery Research centre. ",{"type":570,"attrs":704,"content":705},{"textAlign":49},[706],{"text":707,"type":575},"The company has committed an investment of over KRW 30 billion ($22 million) by 2030 into research focusing on battery technologies that can increase EV driving distance and shorten charging time.",{"type":570,"attrs":709,"content":710},{"textAlign":49},[711],{"text":712,"type":575},"Samsung too is involved in developing its own sodium ion battery and in March 2023 completed a solid state battery pilot line at its R&D centre.","Samsung SDI will supply Hyundai Motor with high nickel electric vehicle (EV) batteries for seven years starting from 2026, the first ever partnership in the EV space between the two South Korean companies. The prismatic battery cells will be made at Samsung’s factory in Hungary, forecast to supply 16.9% of Europe’s total cell supply in […]",[715],{"slug":558,"name":559,"content":716},{"job_title":561,"image":717,"bio":564,"linkedin":565},{"filename":563},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"4fa5eafd-42d2-456e-a930-df801697f671\", \"id\": \"\"}-->","article",[721,724],{"slug":722,"name":723},"batteries","Batteries",{"slug":725,"name":726},"ev","EV","private",{"id":49,"alt":729,"name":648,"focus":648,"title":729,"source":648,"filename":730,"copyright":648,"fieldtype":731,"meta_data":732,"is_external_url":51},"Hyundai Kona EV parked next to full length window, with the car reflected in the window","https://wp-admin.benchmarkminerals.com/app/uploads/hyundai-kona-electric-0923-28-scaled.jpg","asset",{"alt":729,"title":729,"source":648,"copyright":648},"Oct 26, 2023","26th October 2023",[],[],1781280273663]