Samsung Electronics Chairman Lee Jae-Yong and BMW CEO Oliver Zipse had a meeting on December 17, 2022, to solidify the cooperation between the two companies on EV batteries. The chiefs of both companies met at the BMW Driving Center in Yeongjong Island, Incheon, South Korea, along with other executives.
The meeting involved discussions around facilitating collaboration and expanding the usage of Samsung SDI batteries in BMW EVs. Notably, this is the second meeting between the two company heads since Lee's business trip to Europe in July of this year. In an official statement, Lee stated that “I am happy to work with BMW Group. Let's boost our partnership in the future as well.”
On the other hand, BMW CEO Zipse also stressed how important and key role Samsung plays in the automotive industry. Before the official meeting, the two CEOs came together for a handover ceremony where 10 BMW New i7s, the company's first flagship EV sedan, were handed over to Samsung affiliate CEOs. The first New i7 will be used by Samsung SDI CEO Choi Yoon-ho, while other owners of the 9 EVs have yet to decide.
The BMW i7 flagship sedan is powered by Samsung’s Generation 5 batteries. These improved batteries help increase the percentage of nickel in cathodes to over 88%, thereby boosting the car's energy density. This helps provide a far better driving range compared to previous battery cells. Samsung and BMW have partnered since 2009, when they first announced their collaboration on developing EV batteries.
It all started with the 2013 BMW i3, which was the company's first EV. Later, the i8, iX, and i4 were introduced, all with Samsung SDI's high-performance batteries, with both the iX and i4 getting the Generation 5 batteries. In 2014, both agreed to expand their partnership, and 5 years later, both signed another deal where Samsung would supply BMW with KRW 4 trillion (around $3.05 billion) worth of EV batteries. Currently, Samsung has increased the amount by threefold to further bolster the alliance.
