Author: Tronserve admin
Wednesday 4th August 2021 10:58 AM
Samsung SDI to Supply Battery Cells, Modules to Germany’s AKASOL
South Korean battery maker Samsung SDI Co. closed a seven-year contract with Germany’s electric vehicle battery pack manufacturer AKASOL AG to provide lithium-ion battery cells and modules starting 2020, a move that should help it rapidly broaden its presence in Europe.
Samsung SDI signed a memorandum of understanding (MoU) agreement with AKASOL at the 2019 International Motor Show in Frankfurt, Germany, on Sunday (local time) to supply the German battery pack maker its lithium-ion battery cells and modules from 2020 to 2027. Whichever financial term was not revealed.
Under the agreement, Samsung SDI’s cells and modules will be used in AKASOL’s freshly manufactured third-generation battery packs, and they are enough to make total 13-Gigawatt hours (GWh) worth battery packs over the cited period. By and large, 10 GWh is identical to battery capacity that can power up to 160,000 all-electric vehicles with each a driving range of 320 kilometers on a single charge.
The most current deal is an expansion of the partnership between Samsung SDI and AKASOL. The Korean company has been already supplying its lithium-ion battery cells and modules to AKASOL for the German partner’s first-generation battery systems. The stretched partnership with AKASOL is anticipated to help Samsung SDI accelerate its expansion plans in the European battery market.