Lee Jae-yong and Chung Eui-sun Hold First Solo Meeting... Discuss Future Car Batteries

Lee Jae-yong and Chung Eui-sun Visit Samsung SDI Cheonan Plant on the Morning of the 13th
First Official Solo Meeting Between Two Company Heads for Business Purposes
Sharing Trends and Development Status of All-Solid-State Battery Technology
Expecting New Collaboration in Future Mobility Business Sector

[Asia Economy Reporter Suyeon Woo] Samsung Electronics Vice Chairman Lee Jae-yong and Hyundai Motor Group Executive Vice Chairman Chung Eui-sun held a sudden meeting on the 13th at Samsung SDI's Cheonan plant to discuss the direction of next-generation electric vehicle business. Attention is focused on whether this meeting between the two heads can create a new turning point for the future mobility business of Samsung Group and Hyundai Motor Group.

According to industry sources, on the morning of the same day, Hyundai Motor Group and Samsung executives visited Samsung SDI's Cheonan plant to exchange opinions on the development status and direction of all-solid-state batteries, the next-generation electric vehicle batteries.

From Hyundai Motor Group, Executive Vice Chairman Chung, Albert Biermann, President of Hyundai-Kia R&D Division, and President Seo Bo-shin in charge of products visited the site, while from Samsung Group, Vice Chairman Lee, Samsung SDI President Jeon Young-hyun, and Samsung Advanced Institute of Technology President Hwang Sung-woo welcomed the Hyundai Motor Group executives.

The Samsung SDI Cheonan plant visited by the executives of both sides specializes in the production of small batteries and automotive batteries. Hyundai Motor Group executives, including Executive Vice Chairman Chung, listened to Samsung's explanation on global all-solid-state battery technology trends and Samsung's technology development status in the executive meeting room of the battery building. Afterwards, they toured the advanced development site for electric vehicle batteries together and reportedly continued in-depth discussions on mutual interests.

Lee Jae-yong, Chairman of Samsung Group (left), Chung Eui-sun, Executive Vice Chairman of Hyundai Motor Group

This is the first time the two heads of the companies have held a separate official meeting for business purposes. Although Vice Chairman Lee and Executive Vice Chairman Chung have often met at government-level business leader meetings, a meeting at the group company level is very rare. Also, it is unprecedented for the head of Hyundai Motor Group to visit a Samsung Group business site.

Hyundai Kia currently equips its electrified vehicles with batteries from LG Chem and SK Innovation, but it has plans for additional orders several times, so the door for new cooperation is open. If Hyundai Kia and Samsung SDI expand their cooperation following this meeting between the two heads, it is expected to influence changes in the electric vehicle battery industry landscape. Moreover, as the future mobility business expands into the electronic components field, the scope of collaboration may also broaden.

Samsung Electronics recently announced innovative all-solid-state battery technology capable of driving 800 km on a single charge, and Hyundai Motor Group has revealed plans to launch 44 eco-friendly vehicles by 2025, 23 of which will be pure electric vehicles. A Hyundai Motor Group official said, "We are collaborating with global partners to provide the best value to customers, and all possibilities are open."

This content was produced with the assistance of AI translation services.