Samsung Group and Hyundai Motor Group held a top level meeting on Wednesday (13 May) to discuss possible collaboration in the electric vehicle segment, according to local reports.
South Korea's largest conglomerate Samsung Group is one of the leading global manufacturers of lithium ion batteries for all major applications, including electric vehicles and smart phones, through its Samsung SDI subsidiary.
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Lee Jae-yong, Samsung vice-chairman, hosted a meeting with Hyundai executive vice-chairman Chung Eui-sun at Samsung SDI's main battery manufacturing plant in Cheonan to review his company's recently unveiled all solid state battery technology and discuss business opportunities.
In early March Samsung said it had developed a solid state battery technology which uses solid instead of liquid electrolytes which the company claims offers higher energy density and improved safety compared with current batteries in use.
The company claims its new batteries can provide an electric vehicle with a range of up to 800km (500 miles) on a single charge and a lifecycle of more than 1,000 charges.
At the end of 2019, Hyundai signed an agreement worth KRW10 trillion (US$8.2bn) with local lithium ion battery manufacturer SK Innovation for the supply of 500,000 EV batteries over a five year period.
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By GlobalDataHyundai this week confirmed plans to mass produce a series of purpose built electric vehicles based on its electric global modular platform (E-GMP), starting with a large model codenamed NE and a Kia brand cross utility vehicle in 2021.
The NE model is understood to be based on the EV concept 45 unveiled at the Frankfurt show last September and at the China International Import Expo in Shanghai the following November.
Hyundai currently has two electric passenger car models in its line, the Ioniq and the Kona EV.
