Samsung SDI Signs First EV Battery Supply Deal with Mercedes-Benz
Samsung SDI has signed a multi-year agreement to supply high-nickel NCM batteries for Mercedes-Benz next-generation electric vehicles, marking its first EV battery deal with the automaker.
What Happened
Samsung SDI announced a multi-year agreement with Mercedes-Benz to supply high-nickel NCM batteries for the automaker's next-generation electric vehicles. The signing ceremony took place in Seoul, attended by executives from both companies, including Samsung SDI President and CEO Joo Sun Choi and Mercedes-Benz Group Chairman Ola Källenius. The batteries will be used in future compact and mid-size electric SUVs and coupe models.
- Batteries will feature high-nickel NCM chemistry for high energy density and extended driving range.
- Mercedes-Benz plans to use the batteries in compact and mid-size electric SUVs and coupe models.
- The two companies will also cooperate on next-generation battery technology development.
“This partnership brings together the innovative DNA of both companies. It is meaningful in that SAMSUNG SDI has secured a battery order aimed at strengthening its position in the global EV market.”
Why this matters
The deal positions Samsung SDI as a key battery supplier for Mercedes-Benz's next-generation EVs, expanding its presence in the global EV market.
Terms in This Story
- NCM
- NCM stands for nickel-cobalt-manganese, a type of lithium-ion battery chemistry commonly used in electric vehicles for its high energy density.
- high-nickel
- High-nickel refers to a battery chemistry with a high proportion of nickel, which increases energy density and driving range.
Summarised from the linked release; details can be imperfect — always verify against the original source.