Samsung SDI and BMW sign € 2.9 billion battery agreement

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Samsung SDI and BMW have signed a contract for the supply of batteries in the amount of about 2.9 billion euros. At the same time, the parties agreed to continue cooperation in the production of electric vehicles.

Under the terms of the contract, Samsung SDI will supply fifth-generation batteries for BMW electric vehicles from 2021 to 2031. According to Samsung SDI, fifth-generation batteries will improve the basic characteristics of BMW electric vehicles, including mileage on a single charge and charging speed.

The companies have been collaborating in the development of electric vehicles since August 2009. One of the fruits of collaboration is the most capacious Samsung SDI batteries used in BMW EV i3 electric cars. In July 2014, the parties signed a new agreement aimed at expanding the supply of batteries, joint development of new generation materials and the implementation of global projects.

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