Samsung and BMW have joined hands in the development of EV batteries. It is reported that on December 17, 2022, Lee Jae-Yong [Samsung Electronics Chairman] and Oliver Zipse [CEO BMW] had a meeting regarding their collaboration on EV batteries. The meeting was held at the BMW Driving Center in Yeongjong Island, Incheon, South Korea. Other executives also joined this meeting.
The meeting revolved around the discussion of how the collaboration could be expanded to facilitate the usage of Samsung SDI batteries in BMS EVs. This is the second time both companies have held meetings between the company heads since Lee’s business trip to Europe in July 2022. Lee mentioned in an official statement that Samsung is happy to work with the BMW group. He emphasized boosting the partnership in the future as well.
Similarly, BMW CEO Zipse stressed the importance of Samsung’s role in the automotive industry. before the official meeting, the CEOs came together for a handover ceremony. In the handover ceremony, 10 BMW New i7s [BMW’s first flagship EV sedan] were handed over to affiliated CEOs of Samsung. Samsung SDI CEO, Choi Yoon-ho, will be the first user of the New i7. Whereas the other 9 owners of EVs have yet to decide.
Generation 5 of Samsung batteries are powering the new BMWi7 sedan. These batteries work by increasing the ratio of nickel in cathodes to around 88%. Thus, the energy density of the car boosts up. It helps to provide a better driving range in contrast to other battery cells. Since 2009 Samsung and BMW have collaborated. It was the first time both companies announced their partnership for developing EV batteries.
The 2013 BMW i3 was the first EV of the company. It all started from there. Lately, the company introduced i8, iX, and i4. These were accompanied by high-performance batteries SDI by Samsung. iX and i4 received the 5th generation of batteries. Where in 2014 the two companies made an agreement on expanding this partnership. It is almost five years after that the companies signed another deal.
This deal signifies that Samsung would supply BMW with KRW 4 trillion (around $3.05 billion) worth of EV batteries. Presently, Samsung has raised the amount by three times to further strengthen the partnership.
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