Genesis “Neolun Concept,” known as the concept model for the GV90. Hyundai Motor
The Genesis GV90, a large electric sport utility vehicle powered by batteries from Samsung SDI (006400.KS), will launch in the third quarter, in a move seen as elevating cooperation between Hyundai Motor Group and Samsung Group to a new level.
Hyundai Motor (005380.KS) will unveil the GV90 with Samsung SDI batteries in the third quarter, according to the auto industry on the 13th. The GV90 is a flagship model developed using the full range of electrification technology Hyundai has accumulated over more than two decades. With an expected launch price in the mid-100-million-won range, the vehicle is likely to feature top-tier materials and specifications. Batteries account for 30% to 40% of an electric vehicle’s cost, a component comparable to the engine in an internal combustion vehicle.
Hyundai Motor and Kia (000270.KS) have until now worked mainly with LG Energy Solution (373220.KS) and SK On among Korea’s three major battery makers. Their first supply contract with Samsung SDI came in 2023.
The scope of that partnership is expanding rapidly. Samsung SDI batteries have now been adopted for the top-tier GV90, following the Hyundai Ioniq 3 and Kia EV2 — volume models the company is deploying as a competitive push in the European market this year against a Chinese electric-vehicle offensive. Hyundai and Kia, which have favored pouch-type batteries, are said to have rated highly the energy density and safety of the prismatic batteries produced by Samsung SDI. Samsung SDI raised output using a high-nickel NCA (nickel, cobalt, aluminum) cathode with a nickel content of more than 91%, and resolved the chronic swelling problem with an anode that combines silicon nano-sized to a few thousandths of the thickness of a human hair.
The business community is watching cooperation between Hyundai and Samsung Group spread beyond batteries into semiconductors, robots and software-defined vehicles (SDVs). Hyundai, Kia and Samsung SDI are jointly developing batteries dedicated to robots, going beyond automotive use. Samsung Electronics’ (005930.KS) foundry is said to be manufacturing self-driving chips that Hyundai is developing in-house. The two sides are expanding functions through the Internet of Things (IoT) platform SmartThings, including “home-to-car,” which controls vehicles, and “car-to-home,” which controls home appliances. In the second half of this year, Rainbow Robotics, Samsung Electronics’ robotics subsidiary, and Hyundai Rotem, Hyundai Motor Group’s rail and defense affiliate, will deliver a multi-legged walking robot for counterterrorism operations, jointly developed by the two, to the Army.