Reportedly, it came to hear that Samsung Electronics Chairman Lee Jae-Yong will be going to have a meeting with Lucid Motors in the U.S. It is intended for a partnership on electric vehicle batteries. While, after its meeting with BMW Chairman Oliver Zipse last year. Lee visited Samsung SDI’s site earlier this year, in order to tour the all-solid-state battery pilot line.
This meeting going to expect sometime next month. While it is also expected that president Yoon Seok-Yeol will also participate in his visit to the United States on April 4. Lucid Motors, CEO Peter Rawlinson is most anticipated to discuss EV battery collaboration with Lee.
Talking about Lucid Motors then it is an American electric vehicle company founded in 2007. While it was listed on NASDAQ in 2021. Also, its premium electric vehicles of more than 1 million won are the main ones. The Saudi Sovereign Wealth Fund (PIF), which is administered by Saudi Crown Prince Mohammed bin Salman al-Saud is the bulkiest shareholder. Since in 2018, it pens an investment agreement of $10 billion respectively.
Additionally, Crown Prince bin Salman also has close terms with Chairman Lee. In 2018, both had their meeting, whereby they discussed a partnership on EV batteries. By that time, Crown Prince bin Salman greatly encouraged Saudi Arabia, in order to build a battery factory.
Predictions to propose Cylindrical battery to Lucid Motors used in BMW
Meanwhile, with this meeting between Chairman Lee and Lucid Motors’ executives. The only that can be considered is the battery supply. The US-based company used cylindrical batteries from Samsung SDI and LG Energy Solution. On the other hand, by 2020, LG Energy Solution acquire most of the volume. While its contract going to end in 2023. Therefore Samsung SDI can put forward a 46mm diameter cylindrical battery to Lucid Motors to supply BMW.
Remarkably, by 2016, Saudi Arabia also promotes the “Saudi Vision 2030 Project.” As the upcoming growth engine for digital, renewable energy, electric vehicles, and bio-industries. Also, Chairman Lee, in person analyzed the all-solid-state battery lineup recently. It is predicted that Samsung’s “battery super gap” strategy will begin soon.