Samsung SDI Chairman Lee Jae-yong Secures Battery Supply Deals with All Three German Automakers

Samsung SDI has secured all three German automakers (Mercedes-Benz, BMW, and Audi) as clients by signing a battery supply contract with Mercedes-Benz for electric vehicles. This achievement once again demonstrates the technological prowess of the Korean battery industry.

Samsung SDI will supply high-performance, high-nickel NCM (Nickel-Cobalt-Manganese) prismatic batteries for Mercedes-Benz's next-generation electric vehicle platform. The industry estimates the contract value to be up to 10 trillion Korean won.

Mercedes-Benz is strengthening its cooperation with Korean battery companies to diversify its supply chain. Ola Källenius, Chairman of Mercedes-Benz Group AG, announced plans to introduce about 40 new car models by next year, most of which will be electrified.

The meeting between Chairman Lee Jae-yong of Samsung Electronics and Chairman Ola Källenius last November influenced the contract signing. Last month, Chairman Lee Jae-yong visited Germany with Choi Ju-seon, President of Samsung SDI, to finalize discussions for the battery supply contract with Mercedes-Benz. With this agreement, Samsung SDI will now supply batteries to all three major German automakers: Mercedes-Benz, BMW, and Audi.