Samsung chairman Lee Jae-yong is expected to meet executives of US electric car maker Lucid next month, TheElec has learned.
Lee will accompany South Korea's President Yoon Suk-yeol on his state visit to the US on April 26.
There is expected to be a roundtable meeting between US and South Korean businessmen. Lee’s meeting with his counterparts from Lucid, which may include CEO Peter Rawlinson, will be done on the sideline of this, sources said.
EV maker Lucid was founded in 2007 and listed on Nasdaq in 2021 and sells mostly premium electric cars.
Saudi Arabia’s Public Investment Fund is its largest shareholder __ the fund signed a US$1 billion investment deal with the car maker in 2018.
Lee met Saudi Arabia’s Crown Prince Mohammed bin Salman that year when Salman proposed Samsung build a battery factory in Saudi Arabia.
This didn’t materialize as the Samsung chairman was embroiled in a bribery scandal in South Korea at the time.
Samsung’s Lee and Lucid executives are expected to discuss the supply of cylinder batteries, which the car maker procures from both Samsung SDI and LG Energy Solution.