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Investing In Technologies To Become A More Known Company In The Electric Car Battery Industry, Samsung Is Planning To Partner With SK Group
Samsung Digital Interface (SDI), a part of the company responsible for manufacturing batteries for electric cars and smartphones, plans to close a partnership with significant investment with another giant from South Korea for the supply of wide-range technologies and equipment for electric cars from partner automakers.
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Representatives from Samsung SDI confirmed they are negotiating a million-dollar investment in new technologies of this type, aiming to generate greater growth in the market. According to an employee at Samsung, nothing has been decided yet regarding the investment in technologies, but the company is exploring the matter from a medium to long-term perspective.
It is worth remembering that the decision regarding the investment will be made after clarifying legal issues that the partnership will involve and may be directly affected by the arrest of Lee Jae-yong, vice president and heir of Samsung.
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Despite being a leader in the smartphone market, Samsung is not well-known for producing batteries for electric cars, even though it manufactures several promising technologies for the market, which has been facing global hurdles due to the component’s lack of efficiency.
Samsung Invests In A New Venture In Europe
According to SDI employees, the supply of batteries for BMW’s electric cars, one of the leaders in the automotive sector in Europe, could become a reality for the company’s investment.
The continent is a major area of interest for the South Korean operations. It is important to note that Samsung SDI and SK Group ranked fifth and sixth, respectively, in global market share for electric car batteries in the first quarter of this year. According to the SNE Research report, their market shares were 5.3% and 5.1%.
Automakers Can Benefit From Samsung’s Investment
If the partnership is finalized, Samsung’s investment could directly benefit automakers looking to reduce their dependence on producing their own batteries.
The partnership with SK Group would make it possible to analyze and evaluate the technologies of these equipment and gain greater control over production. In partnership with Hyundai, the smartphone company is already aiming at its growth in the Global Market Share of batteries for electric cars, which promise a range of 800 km on a single charge.
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