Samsung SDI wins $1.36 bil. LFP battery deal in US

Samsung SDI, Korea's second-largest battery maker, said Wednesday its U.S. subsidiary has secured a deal worth more than 2 trillion won ($1.36 billion) to supply lithium iron phosphate (LFP) batteries to a U.S. energy company through 2027. SDI America signed the three-year contract with an undisclosed U.S. energy-related infrastructure developer to supply LFP batteries for the company's energy storage systems (ESSs), Samsung SDI said in a press release. The LFP batteries will be produced at the U.S. plant of Samsung SDI's first U.S. joint venture with Stellantis, it added. "The latest ESS battery deal is significant as it has enabled the company to secure a new market for LFP batteries. Building on this agreement, the company plans to expand supplies of LFP batteries," a company official said. LFP batteries are increasingly favored for ESS applications due to their cost efficiency and strong safety features. Samsung SDI said it is "in talks" with several global customers over additional deals for LFP and other battery types. The company has mainly produced nickel-cobalt-aluminum (NCA)-baseWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times