On December 28, according to Korean media reports, Samsung SDI will supply electric vehicle batteries and battery packs to the Swedish Volvo Group.
Samsung SDI is a subsidiary of South Korea's Samsung Group in the field of electronics, which is a leader in the field of square power batteries. The company's business scope includes energy solutions and electronic materials. Among them, the energy solutions business consists of automotive power batteries, small lithium-ion batteries and ESS batteries.
According to the data, more than 30 car manufacturers such as BMW, Audi, Volkswagen, Jaguar and Fiat Chrysler are the core customers of Samsung SDI, and Europe is the main market in its power battery field.
The hand-in-hand between Samsung SDI and Volvo is not the first cooperation between the two sides. Back in 2019, Samsung SDI formed a strategic alliance with the Volvo Group to supply battery cells and modules for Volvo's electric trucks and assemble them in its factories. At that time, as Volvo delivered the first electric trucks to European customers, Volvo expected future commercial vehicle manufacturers to increase sales of electric models, and for this consideration, an alliance was formed with Samsung SDI to seek a stable supply of power batteries.
Today, Volvo's electrification is no longer limited to the truck field, but has formed a complete electrification product layout including pure electric models, plug-in hybrid models and mild hybrid models.
It is understood that Volvo plans to achieve full electrification by 2025, when the proportion of pure electric models will reach 50%, and the rest will be hybrid models, and become a pure electric luxury car company by 2030.
With a clear strategic goal, Volvo needs a more stable battery supplier, so it is expected to strengthen cooperation with Samsung SDI.
It is understood that Samsung SDI plans to invest about 2 trillion won (about 11.46 billion yuan) in the battery business this year to expand factories in Tianjin, China, Goed in Hungary, and Seremban in Malaysia. At the same time, Samsung is also planning to expand into the United States, and will invest additional funds in the plan.
In addition, in May this year, Samsung SDI also announced that it will develop large all-solid-state battery cells and prototype all-solid-state battery cells by 2025, and start mass production in 2027.