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BMW and Samsung enter expanded battery agreement [w/video]

What's good for the goose is good for the gander. In this case, the goose is BMW and the gander is Samsung. And their five-year plan has worked out well. The German automaker this week expanded its current agreement with the South Korean battery-making giant. BMW and Samsung SDI reached a memorandum of understanding for Samsung to keep making batteries for BMW's growing stable of i3 battery-electric and i8 plug-in hybrids as well as yet-to-be revealed hybrid models. No dollar amount or new time frame was revealed, but with BMW already moving about 5,400 i3 vehicles during the first six months of the year, there should be a substantial amount of funds changing hands. BMW started working with Samsung in 2009 when it began buying batteries for its Megacity electric vehicle from SB LiMotive, a 50-50 joint-venture between Samsung SDI and Bosch. Things have been looking up for Samsung since last August, when Tesla Motors decided to diversify its battery supply chain by branching out beyond Panasonic and buying some of its lithium-ion batteries from Samsung. Feel free to check out the Samsung-Bimmer press release, along with a video report, below. BMW Group and Samsung SDI expand partnership BMW Group and Samsung SDI expand partnership: Signing of a memorandum of understanding for delivery of further battery cells in signing of MoU for delivery of further battery cells Seoul. The BMW Group and Samsung SDI plan to expand their supply relationship for battery cells for electro-mobility. The two companies signed a memorandum of understanding (MoU) to this effect today in Seoul. Samsung SDI will supply the BMW Group with battery cells for the BMW i3, BMW i8 and additional hybrid models over the coming years. The most important elements of the agreement are the increase in quantities delivered over the medium term, in response to growing demand for electro-mobility, and further technological development of battery cells. Dr. Klaus Draeger, member of the Board of Management of BMW AG, responsible for Purchasing and Supplier Network: "Our partnership with Samsung SDI is a good example of successful Korean-German cooperation on innovative technologies. The battery is a key component in every electric vehicle – since it basically determines the range and performance capabilities of the car.

BMW 4 Series Convertible basks in the sun

The BMW 4 Series Convertible will show its non-camouflaged face sometime later this year, but our spies recently caught this nearly naked prototype out getting some sun. As you'll recall, the droptop 4 Series replaces the 3 Series Convertible in the BMW range, and if our recent stint behind the wheel of the new 435i Coupe is anything to go on, this topless 4er should be quite a fun runabout for sun-drenched motoring.
To no one's surprise, the 4 Series Convertible shares all of its design with the 4 Series coupe, save, of course, the obvious roofectomy. Beyond that, the topless 2+2 will use the same engines and transmissions as the coupe, meaning it should arrive in the US in both 428i and 435i guises, powered by a 2.0-liter turbocharged inline-four and 3.0-liter turbocharged inline-six, respectively. Both six-speed manual and eight-speed automatic transmissions will be available.
The car spied this time around has the full M Sport visual treatment, with the revised (and better-looking) front fascia, larger 19-inch wheels, and attractive Melbourne Red paint. Interestingly, it appears this prototype has the standard xenon headlamp setup, rather than the full-LED option that's also available.

Why BMWs are cheaper than Hyundais in Korea

Bloomberg reports shifting tariff regulations have upended the traditional automotive pecking order in Korea. Thanks to cheaper import taxes, foreign brands have seen market share jump from 28 percent to 41 percent over the last two years. BMW, Mercedes-Benz and Audi have all capitalized on the shift, with domestics like Hyundai and Kia suffering at the hands of their German rivals.
Taxes on European imports have fallen from 8 percent in 2011 to just 3.2 percent today. Over the next few years, tariffs will all but be eliminated for most imports, and taxes on US-made vehicles are expected to fall to just 4 percent in 2014. By 2016, that number will be zero. Needless to say, Hyundai and Kia are concerned about the shift.
Hyundai has seen profit fall by 15 percent last quarter, and the company says it is on pace to see the slowest sales growth since 2007. The company's shares have fallen by 12 percent. In order to stem the losses, Hyundai has discounted its midsize sedans and started working on diesel engine options.