Samsung SDI and Volvo are going to expand their cooperation on EV batteries
The battery-manufacturing unit of the South Korena conglomerate, Samsung SDI, held an event today to mark the fifth year of its collaboration with Volvo Trucks. Reportedly, Samsung has been supplying Volvo with batteries for electric buses and trucks. According to recent pieces of information, the two companies have shown interest in expanding their collaboration.
Samsung and Volvo’s partnership
In order to celebrate the five years of partnership, Martin Lundstedt, President and CEO of the Volvo Group, paid a visit to Samsung SDI’s battery plant in Cheonan. Reportedly, the two companies are eager to extend their partnership beyond EV batteries and focus on segments like ESS (Energy Storage Systems) and construction equipment. Samsung SDI has been supplying batteries to Volvo since 2018. Initially, the batteries were supplied through a German battery manufacturer, Akasol AG.
The businesses signed a strategic cooperation agreement in 2019 to work together to create next-generation mobility systems. Since last year, Samsung SDI has been providing Volvo with direct battery supplies in accordance with that arrangement. These batteries are used to power electric trucks. In 2022, Volvo introduced its FM Electric Trucks. These vehicles utilize 28,000 units of Samsung SDI’s 21700 high-nickel cylindrical batteries.
In 2022, at the InterBattery 2023 expo, the company grabbed huge attention. Furthermore, by 2040, Volvo intends to accomplish its net-zero supply chain goal. Throughout this time period, Samsung SDI has helped transform Volvo from ICE (Internal Combustion Engine) to EVs. CEO of Samsung SDI, Choi Yoonho, declared, “We will leverage cutting-edge technology to provide battery solutions ensuring the highest quality and safety for a wider range of Volvo Group applications. We will further solidify our cooperation that has been nurtured over the past five years.“
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