Samsung heir Lee Jae-yong (left) shakes hands with Hyundai Motor Group heir Chung Euisun during a luncheon in January. (Yonhap)
Samsung Electronics Vice Chairman Lee Jae-yong and Hyundai Motor Group Executive Vice Chairman Chung Euisun are expected to meet again to hold a second round of discussions on next-generation electric car battery technology, according to news reports Thursday.
Lee is likely to visit Hyundai Motor’s research and development institution in Hwaseong, Gyeonggi Province, Tuesday, according to the reports.
The visit is being planned in response to Chung’s visit to Samsung SDI’s factory in Cheonan, North Chungcheong Province, in May.
During the May meeting, the two heirs discussed Samsung’s latest technology for all-solid-state batteries, known as next-generation batteries because they are expected to replace the lithium-ion batteries widely used in electric vehicles today.
After the meeting, both Samsung and Hyundai denied rumors that the two leaders had talked about specific plans for a future partnership connected with building battery-powered cars.
The second meeting, however, might indicate that a concrete partnership deal is in the works, market watchers said.
Hyundai’s Chung has been active in meeting battery makers recently, including SK Group Chairman Chey Tae-won and LG Corp. Chairman Koo Kwang-mo. This is seen as evidence of a strong push by Hyundai to roll out 1 million electric cars in 2025 as part of its “New Deal” plan.
By Song Su-hyun (firstname.lastname@example.org)