Stellantis (NYSE / MTA / Euronext Paris: STLA) and LG Energy Solution today announced that they have entered into a memorandum of understanding to form a joint venture to produce battery cells and modules for North America. The JV will establish a new battery manufacturing facility supporting Stellantis’ goal of realizing more than 40% of its sales in the U.S. comprised of electrified vehicles by 2030. Production is scheduled to start by the first quarter of 2024. Annual production capacity of 40 gigawatt hours is predicted.
The batteries produced at the new facility will be supplied to Stellantis assembly plants throughout the US, Canada and Mexico for installation in next-generation electric vehicles ranging from plug-in hybrids to full battery electric vehicles that will be sold under the Stellantis family of brands. Stellantis was created by the merger of Fiat Chrysler, aka FCA, and Peugeot or PSA. Continue reading









Stellantis, Samsung SDI JV for NA Battery Manufacturing
A lot of blue sky ?
Stellantis N.V. (NYSE / MTA / Euronext Paris: STLA) and Samsung SDI* today announced that their companies have entered into a memorandum of understanding to form a joint venture to produce battery cells and modules for North America. Targeted to start in 2025, the plant aims to have an initial annual production capacity of 23 gigawatt hours, with the ability to increase up to 40 gigawatt hours in the future.
The latest Joint Venture for Lithium-Ion Battery Production in North America comes just days after Stellantis announced that it had entered with LG Energy Solution a memorandum of understanding to form a joint venture to produce battery cells and modules for North America. Thus the battery gold rush among major automakers continues with vast unknowns on how EVs will pan out among consumers. (Stellantis, LG Energy JV for North American BatteryProduction;Toyota to Spend $3.4B for US Battery Manufacturing) Continue reading →