(9 days left!) Be the first with a 200MP camera! Visit Samsung to reserve and gain $100 in Samsung credit!

SamMobile has affiliate and sponsored partnerships. If you buy something through one of these links, we may earn a commission. Learn more.

Samsung joins hands with Stellantis to make batteries for electric vehicles

Business
By 

Last updated: October 19th, 2021 at 08:38 UTC+02:00

Samsung SDI, a Samsung Group firm, is among the biggest battery makers in the world. It supplies batteries for electric vehicles from companies like Hyundai and Rivian. It has now signed a joint venture with global carmaker Stellantis to make batteries for its electric cars across various brands.

No details have been revealed regarding the size of the deal, but experts claim that it could be worth a few billion dollars. It was recently reported that Samsung SDI and Stellantis had signed an MoU (Memorandum of Understanding) to build a battery production plant in the US. Stellantis is the result of a merger of two big automobile brands: Fiat Chrysler Automobiles NV and PSA Groupe.

Stellantis is being seen as a strong partner in the EV space since it owns various car brands, including Citroen, Dodge, Chrysler, Fiat, Jeep, and Maserati. The company has announced that it will invest around $34.9 billion by 2025 for the electrification of its cars and software development.

Samsung SDI currently has three battery plants, one each in China, Hungary, and South Korea. It competes with the likes of LG Energy, SK On, Panasonic, CATL, and BYD.

Join SamMobile’s Telegram group and subscribe to our YouTube channel to get instant news updates and in-depth reviews of Samsung devices. You can also subscribe to get updates from us on Google News.

Via Business Samsung SDI
Load 0 comments

You might also like

Samsung SDI to construct new battery factory for BMW in Hungary

Samsung SDI is planning to construct a new battery manufacturing plant in Göd, Hungary reports The Elec. According to the publication, Samsung will produce batteries mainly for BMW’s electric cars at the new battery manufacturing plant. Reportedly, these batteries will be made according to the specifications provided by the German car manufacturer. The new factory […]

  • By Asif Iqbal Shaik
  • 1 week ago

Samsung’s profit nosedives 70% in Q4 2022 due to low chip, smartphone sales

Samsung has tough times ahead, similar to many other consumer electronic firms, including Apple. The South Korean firm announced its earnings guidance for Q4 2022, and according to the company’s internal estimates, its operating profit would be around KRW 4.3 trillion (around $3.37 billion) from total revenue of around KRW 70 trillion (around $55 billion). […]

  • By Asif Iqbal Shaik
  • 3 weeks ago

Smartphone brands could be forced to bring back removable batteries

After making USB Type-C charging ports mandatory on all smartphones, tablets, and laptops, the European Union (EU) has now agreed on new laws and regulations aimed at making batteries more sustainable and reusable. This new regulation will present a new set of challenges to consumer tech firms and battery manufacturers, as the new laws cover […]

  • By Sagar Naresh
  • 1 month ago

Samsung and BMW chiefs meet to discuss cooperation on EV batteries

Samsung Electronics Chairman Lee Jae-Yong and BMW CEO Oliver Zipse had a meeting on December 17, 2022, to solidify the cooperation between the two companies on EV batteries. The chiefs of both companies met at the BMW Driving Center in Yeongjong Island, Incheon, South Korea, along with other executives. The meeting involved discussions around facilitating […]

  • By Sagar Naresh
  • 1 month ago

Samsung SDI achieves record-high profits in Q3 2022, thanks to robust EV battery sales

Samsung SDI, Samsung’s battery manufacturing business arm, reported its earnings for Q3 2022. The company said it achieved record-high operating profit in Q3 2022 as the demand for its secondary batteries, used in electric vehicles, soared. The company’s sales during the quarter ending September 2022 were around KRW 5.37 trillion (around $3.79 billion), a 56.1% jump […]

  • By Asif Iqbal Shaik
  • 3 months ago

Samsung SDI showcases latest battery tech for commercial EVs at IAA Transportation in Germany

While Samsung SDI has already joined hands with popular car manufacturers around the world, such as Volkswagen, BMW, and Stellantis, to supply batteries for their passenger electric vehicles (EVs), the company is also keen on supplying batteries for commercial EVs. To that extent, Samsung SDI is demonstrating its latest battery technologies for commercial electric vehicles […]

  • By Asif Iqbal Shaik
  • 4 months ago