South Korean battery maker Samsung SDI said on it has signed a multi-year agreement with Mercedes-Benz to supply electric vehicle batteries, marking the first EV battery supply deal between the two companies.
The batteries will use high-nickel NCM (nickel, cobalt and manganese) chemistry, which is designed to deliver higher energy density and longer driving range, Samsung SDI said in a statement.
The batteries are intended for use in Mercedes-Benz’s next-generation electric vehicles, including compact and mid-size SUVs as well as coupe models.
Samsung SDI did not disclose the financial size of the agreement.
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