Join forces with Samsung and SK Hyundai to add new battery suppliers

On January 4, Hyundai Motor stated that it has selected Samsung SDI and SK Innovation as the final battery supplier candidates, or will supply batteries for its electric vehicles launched in 2023.

Hyundai's search for suppliers this time is intended to make the third battery purchase for its E-GMP platform electric vehicles. The main supply model is the Ioniq 7 pure electric SUV that will be mass-produced in 2024. It is reported that the total price of this batch of orders is about 25 trillion won (approximately 147.8 billion yuan), and due to the large order volume, Hyundai will choose at least two suppliers to cooperate to complete this order. According to industry sources, Samsung SDI and SK Innovation are at the same level in terms of pricing and product quality, and are equally competitive. Hyundai may also sign some orders with LG Energy Solution (the former LG Chem battery division).

If Samsung SDI succeeds in winning the order, this will be the first battery supply contract between Hyundai and Samsung SDI. In addition, the two companies are also expected to expand the scope of cooperation in the automotive industry, and may cooperate on semiconductors in autonomous vehicle technology. In the two batches of purchases that have been finalized before, SK Innovation is the first batch of battery suppliers, LG Energy Solution and CATL are the second batch of 1 suppliers, and the battery value is 10 trillion won (approximately 59.1 billion yuan) and 16 trillion won (about 94.6 billion yuan).

The E-MGP (Electric Global Modular Platform) platform is the latest dedicated platform for electric vehicles developed by Hyundai Motor. It is based on an 800-volt charging architecture and supports two-way charging, laying the foundation for future V2L/V2V/V2G power transmission . The platform’s first new car, Ioniq 5, will be based on the Hyundai Concept 45EV released at the Frankfurt Motor Show in 2019 and will be positioned as a compact pure electric SUV.

Editor's comment:

South Korean industry experts predict that Hyundai will establish a strong alliance with South Korea’s three major electric vehicle battery manufacturers, Samsung SDI, SK Innovation and LG Energy Solution, to help it compete fiercely with overseas rivals. Hyundai Group's procurement has played a positive role in consolidating stable cooperative relations. Taking into account that Hyundai will launch more products based on the new platform, the pattern of the car battery market will undergo even greater changes in the future.