Samsung SDI will supply batteries for the Rivian R1T and Rivian R1S

South Korean news outlet The Elec reports that Samsung SDI has won a contract for manufacturing batteries for Volkswagen. According to "people familiar with the matter", the Korean giant will produce a part of VW's self-designed Unified Prismatic Cells. The media speculates that other companies in which Volkswagen has a stake will also contribute to the production of these battery cells. These are Northvolt and...

5 August 2021

A few days ago, TheElec reported about Samsung SDI's plans on investing 2 trillion won in developing its EV battery business, excluding the USA market. A decision about expanding to North America was yet to be made. Today, the same news outlet reports that this decision is a fact - Samsung SDI has decided to build an EV battery factory in the USA. This factory will be the first for Samsung SDI in the local market...

29 June 2021

During its shareholders' meeting today, Samsung SDI reported that it plans to increase automotive battery supply in the rapidly-growing European market, and enhance product competitiveness by releasing Gen.5 EV batteries this year. Using high-nickel NCA (nickel-cobalt-aluminum) cathode and silicon-based anode materials, Gen.5 batteries offer more than 20% higher energy density and cost reduction benefits. During the...

17 March 2021

Rivian has closed an investment round of $2.65 billion. The financing was led by funds and accounts advised by T. Rowe Price Associates, Inc. This round also included Fidelity Management and Research Company, Amazon's Climate Pledge Fund, Coatue and D1 Capital Partners as well as several other existing and new investors. "This is a critical year for us as we are launching the R1T, the R1S and the Amazon commercial...

20 January 2021

According to various Korean media, Samsung SDI has begun placing orders for equipment in its second EV battery factory in Goed, Hungary. The company has decided to invest 1.2 trillion won in the site which will be twice as large as the current Samsung SDI factory in Hungary. It will produce 5th generation batteries for electric vehicles that will offer high energy density thanks to new materials and new production...

11 December 2020

According to the "3Q20 Quarterly Earnings" report filed yesterday, Samsung SDI has increased its operating profit YoY by 61.1% from 267.4 billion won (USD 237.4 billion). Its revenue from the Li-Ion battery business has increased by 24.1% QoQ and by 22% YoY to 2,381.8 billion won. Samsung SDI says this increase for the large-size Li-Ion batteries is due to seasonality and European EV subsidy policy. For the next...

27 October 2020

Amazon shows off its all-electric delivery van in a short video. The company has commited to reach zero carbon footprint by 2040 and use 100% renewable energy by 2030. According to the video, Amazon's order of 100,000 electric delivery vehicles has the power to save millions of metric tons of carbon per year. These are modern all-black vehicles with blue accents on the outside and inside that hint at the use of...

14 October 2020

According to the latest report by SNE Research, LG Chem holds the first place in the global EV battery market according to GWh shipped in the January-August period of 2020. The Korean giant holds 15.9% of the market. However, CATL is quickly catching up with 15.5% market share. They are followed by Panasonic with 12.4%, Samsung with 4.1%, and BYD with 3.7%. During the January-August period of 2020, the total amount...

10 October 2020

Rivian has announced that a pilot Rivian Skateboard frame tests out its new cradle lately at the company's plant in Normal, IL. This has allowed the team to be more precise with the delivery times of its advetnture electric vehicles. So here it is: "R1T deliveries will begin June 2021. R1S deliveries will begin August 2021."

27 July 2020

EVE Energy is a joint venture partner of SK Innovation in China. Under the joint venture, the two companies are building the Blue Sky United Energy plant for EV batteries in Yancheng. It is projected to have an annual production rate of 20-25GWh. Recently, EVE Energy company has announced that it will supply EV batteries to BMW. For BMW Brilliance - the automakers' joint venture in China, batteries will come from...

27 July 2020

Rivian has closed an investment round of $2.5 billion. The financing was led by funds and accounts advised by T. Rowe Price Associates, Inc. Participants in this investment round include Soros Fund Management LLC, Coatue, Fidelity Management and Research Company, and Baron Capital Group. Existing shareholders Amazon and funds managed by BlackRock also participated. No new board seats have been added, and additional...

10 July 2020

Yonhap and other South Korean news outlets report that the chiefs of Hyundai and SK Innovation have met to discuss future cooperation in the EV market. The Executive Vice Chairman of Hyundai Motor Group - Chung Euisun, and the Chairman of SK Group - Chey Tae-won have met to discuss cooperation on next-generation EV battery technologies, power management chips, and the battery-as-a-service (Baas) platform. The...

8 July 2020

Various South Korean news outlets announced today that the Executive Vice Chairman of Hyundai Motor Group, Chung Euisun, and the LG Group Chairman, Koo Kwang-mo, will meet next week to discuss electric vehicle battery business. According to industry sources, Chung will visit LG Chem's EV battery production site located in Cheongju, North Chungcheong Province, on Monday. LG Chem is already chosen to supply batteries...

19 June 2020

In April 2020, SK Innovation entered the global Top 5 in the EV battery market for the first time. SK Innovation said that according to SNE Research, the company had a 3.5% market share by supplying 189.1 MWh of batteries. Samsung SDI was sixth with 3.4% market share by deploying 187.2 MWh in April. LG Chem was second with 18.2% market share and 988.1 MWh deployed. In the January-April period, LG Chem, Samsung SDI...

18 June 2020