Samsung SDI to Supply Batteries to U.S. Electric Carmaker

Samsung SDI will supply electric car batteries to Lucid Motors. Under a partnership signed on Dec. 2, Samsung SDI will supply cylinder-type batteries to the U.S. electric carmaker.

Transformed from battery maker Atieva into an electric carmaker under the new name in October, Lucid plans to release a premium sports sedan with Samsung batteries in the second half of 2018. It will invest US$700 million to build a plant in Arizona with an annual capacity of 10,000 vehicles.

Lucid claims the sedan will be able to drive for more than 400 miles (about 645 km) on a single charge, and hit 60 mph in just 2.5 seconds.

Samsung SDI chief Cho Nam-seong said, "This partnership will allow Samsung SDI to take the lead in the EV market, which is growing explosively."