Samsung SDI expands EV battery supply deals

What happened: LG Energy Solution (LGES) signed a 6-GWh battery storage deal with DTE Energy, set to deliver 1.5 GW of systems over two years, using U.S. and Canadian-manufactured cells. Concurrently, Samsung SDI (SDI) inked a multi-year EV battery supply deal with Mercedes-Benz, marking their first such agreement. Meanwhile, Solid Power (SLDP), an EV battery startup, reported a 50% YoY drop in Q1 revenue but highlighted progress in its growth story.

Market impact: These deals drive growth in the U.S. energy storage and EV battery sectors. LGES and SDI's supply agreements signal increasing demand for batteries, benefiting manufacturers and automakers. SLDP's progress, despite revenue drop, keeps investors optimistic about the long-term potential of solid-state battery technology.

What to watch next: LGES' and SDI's delivery timelines and Mercedes-Benz's EV production plans will determine the pace of battery demand growth. SLDP's upcoming milestones, such as its planned pilot production line in 2026, will validate its growth story.