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Samsung SDI to Supply Battery Cells to EV Startup Rivian

samsung battery cells rivian

Samsung SDI to supply battery cells to EV startup Rivian. Electric vehicle startup Rivian, backed by Amazon.com Inc and Ford Motor Co, said that South Korean battery manufacturer would supply battery cells for its vehicles.

Rivian, which aims to put an electric pickup and SUV in production this year, said it had been working with the South Korean Battery Maker throughout the process of developing the battery cells.

RJ Scaringe, chief executive officer of Rivian.

We’re excited about the performance and reliability of Samsung SDI battery cells combined with our energy-dense module and pack design.

The U.S.-based startup has raised $8 billion since the start of 2019 and added $2.65 billion funding in an investment round led by T. Rowe Price in January.

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The Tesla Inc rival has been in talks with bankers about its plans to go public and is aiming for an initial public offering in September at a valuation of about $50 billion or more, Bloomberg News reported earlier this year.

Samsung SDI is creating a new future through change and innovation.

As a world-class material and energy solution provider, Samsung SDI secures new technologies and boosts technology competitiveness through steady investment in R&D. In addition, by expanding our business into the cutting-edge materials and parts business, Samsung SDI is now making a leap forward to the company specialized not just in the field of materials such as IT, Li-ion batteries and electronic materials, but also in the field of energy. We will do our best to secure global technical leadership, focusing on the future energy business together with materials technology.

Samsung SDI to supply battery cells to EV startup Rivian, April 12, 2021

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