Samsung SDI Signs Multi-Year EV Battery Deal With Mercedes-Benz

Last week, reports emerged that Samsung SDI was finalizing a deal with Mercedes-Benz to supply batteries for the latter’s electric vehicles. Today, the partnership is official. Samsung SDI and Mercedes-Benz have now signed a multi-year agreement to supply EV batteries.

Samsung SDI to supply high-performance batteries for Mercedes EVs

The multi-year agreement means Samsung SDI will supply batteries for Mercedes-Benz’s next-generation electric vehicles, marking its first EV battery deal with the German luxury carmaker. It already supplies EV batteries to a bunch of car makers, including BMW, Audi, Hyundai, Kia, etc.

The deal was signed at a ceremony held at the Andaz Seoul Gangnam Hotel. Top executives from both companies, including Samsung SDI CEO Joo Sun Choi and Mercedes-Benz Group Chairman Ola Källenius, were in attendance.

Under the agreement, Samsung SDI will provide high-performance batteries featuring high-nickel NCM chemistry. These batteries promise higher energy density, longer driving range, improved lifespan, and solid power output. On top of that, Samsung’s proprietary safety tech will keep things running smoothly.

Mercedes-Benz plans to use these batteries in upcoming compact and mid-size electric SUVs and coupe models. Moreover, both companies also plan to deepen their collaboration, including joint development of next-generation battery technologies. If that pans out, this partnership could turn into something much bigger down the road.

A Samsung SDI official added that “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.”