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Samsung SDI signs deal with AKASOL to supply battery cells, modules

All News 14:08 September 24, 2019

SEOUL, Sept. 24 (Yonhap) -- Samsung SDI Co., a major electric vehicle battery maker in South Korea, said Tuesday it has signed a deal to supply battery cells and modules to German-based battery manufacturer AKASOL AG.

Under the agreement, Samsung SDI will supply lithium-ion battery cells and modules with a total volume of 13 gigawatt-hours (GWh) to AKASOL from 2020 through 2027. The two sides signed the deal last week at the International Motor Show in Frankfurt, Germany.

The companies did not disclose the value of the contract.

AKASOL said its batteries, using Samsung SDI's cells and modules, will be applied to two large serial orders for global commercial vehicle manufacturers.

Samsung SDI has been trying to expand its partnerships with European companies in recent years. In July, the company signed a strategic alliance with Sweden-based Volvo Group to provide battery cells and modules to develop battery packs for electric trucks.


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