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. Any kind of financial term was not unveiled.
Under the agreement, Samsung SDI’s cells and modules will be used in AKASOL’s recently developed third-generation battery packs, and they are enough to make total 13-Gigawatt hours (GWh) worth battery packs over the cited period. In general, 10 GWh is equivalent 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 current deal is an extension 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 assumed to help Samsung SDI accelerate its expansion plans in the European battery market.
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