KRX: 006400 · South Korea
Samsung SDI is the premium end of the Korean battery trio - prismatic and cylindrical cells for European carmakers, plus an electronic materials business that has quietly carried the group through the weak years of the EV cycle. It is the clearest case in the sector of a battery maker whose profits do not come from batteries.
An LFP pack cost $81 per kWh in 2025. The nickel equivalent cost $128. That $47 gap explains most of what has happened to electric car prices, and to the league table of who builds the cells.
12 Sept 2026 · Deep dive · 6 min
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