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October 28, 2026
🌰 Samsung SDI: The Big Picture on ESS Volumes and Prismatic Battery Competition - 2026.10.28
Hi, it’s Dotori 🌰 Let’s start with the big picture again today. Quite a few developments are unfolding around Samsung SDI at the same time, so I’ll unpack the connections one by one.
🔗 U.S. ESS: Supply volumes have stepped up
Here’s the key point: Samsung SDI signed an ESS battery supply deal totaling 1 gigawatt-hour (GWh) with U.S. energy company Alpha Omega Power (AOP) [1]. Including the first batch contracted late last year, the total comes to 1.5GWh [1]. The source sees this as a sign that Korean batteries are gaining ground in the U.S. ESS market as Chinese products are pushed out—and that’s the connection that stands out most to me, too. ESS is a quieter cog than EVs, but once installed, it keeps turning for a long time.
⚙️ Prismatic battery competition: The field is heating up
Competition in the prismatic battery market, long led by Samsung SDI, is intensifying as LG Energy Solution and SK On join in [2]. The contest appears to be heating up further, with specific mass-production plans recently announced [2]. The topic was covered at InterBattery 2026, held at COEX in Gangnam-gu, Seoul [2]. Once development gives way to mass production, the key question is who can get their production lines running reliably first. Hmm, that raises a question: the source hasn’t established how much these production plans will actually change the supply landscape.
🏭 Who in the value chain will benefit first?
Looking at these three developments side by side, Dotori thinks they fall into different tiers. First are areas where supply volumes are already quantified, like the U.S. ESS deal. Second are areas where the structure is changing, like the competition to mass-produce prismatic batteries. Third is all-solid-state batteries: the main news is that Samsung SDI and SK On are working with Solid Power to pursue commercialization, so this is still at the development stage [3]. Since the source hasn’t established when or what results commercialization might bring, this is something to view conditionally.
There’s a story moving in the opposite direction in Europe. The European EV market is growing, but the combined market share of Korea’s three battery makers fell 6.7 percentage points, from 35.4% to 28.7% [4]. Samsung SDI’s battery usage in Europe rose 0.3%, while CATL increased 30.3% over the same period to 80.5GWh, accounting for about 45% of the European market [4]. The market is growing while Korea’s share is slipping—that’s the countervailing factor in this picture.
📈 Stock price and earnings: It all comes down to these questions
There was a report that the stock rose 3.54% intraday and traded at 526,000 KRW [5]. On a closing-price basis, it climbed from ₩484,000 on October 26 to ₩513,000, on October 27 and ₩534,000 on October 28; the change on the 28th was +5.12%. A Seoul Economy TV video explored whether the withdrawal of Chinese ESS companies from the U.S. could benefit Samsung SDI and help it target third-quarter earnings [6]. But the video is framed as a question, so it’s best read as exploring a possibility rather than offering a definitive answer. Dotori thinks the first thing to confirm is whether ESS supply volumes show up in the earnings figures.
Three questions remain: how much of the U.S. ESS volume will translate into actual shipments and earnings, how the competitive landscape will change in prismatic battery mass production, and whether Korean companies can recover their share in Europe. The picture won’t be complete until these questions are answered. 🌰
📰 Reference News (5)
Chinese Products Losing Ground in the U.S. ESS Market, with Korean Batteries Moving In
네이버뉴스 · 2026.10.28
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From Development to Mass Production… Competition in K-Battery Prismatic Cells Heats Up
네이버뉴스 · 2026.10.28
📰 View original
Samsung SDI and SK On Pursue All-Solid-State Battery Commercialization
네이버뉴스 · 2026.10.28
📰 View original
European EV Market Revives, but K-Battery Recovery Remains Limited
네이버뉴스 · 2026.10.28
📰 View original
Samsung SDI Stock Rises 3.54% to 526,000 KRW Intraday on October 28 - Joongang Economy News
네이버뉴스 · 2026.10.28
📰 View original
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