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Stellantis and Samsung SDI to Build Second US Battery Plant
Stellantis** (NYSE: STLA) and Samsung SDI* today announced that they have signed a memorandum of understanding to establish a second battery manufacturing plant in the United States under the existing StarPlus Energy joint venture. Scheduled to start production in 2027, an initial annual production capacity of 34 gigawatt hours (GWh) is forecast.
In May 2022, Stellantis and Samsung SDI announced their intention to build a first battery manufacturing facility in Kokomo, Indiana. Targeted to launch in Q1 of 2025, the plant will have an annual production of 33 GWh, up from the initial target of 23 GWh. That plant – now plants – are a source of contention with the UAW, which is currently conducting contract negotiations with Stellantis. (AutoInformed on Stellantis and Samsung SDI JV to Build EV Batteries in Kokomo and UAW Dumps Traditional Negotiation Opening Handshake)
“This new facility will contribute to reaching our aggressive target to offer at least 25 new battery electric vehicles for the North American market by the end of the decade,” said Stellantis CEO Carlos Tavares. “We are continuing to add more capacity in the United States together with our great partner Samsung SDI and laying the next steps to reaching our carbon neutrality commitment by 2038.”
“By establishing the joint venture with Stellantis last year, we laid a solid groundwork for marking our presence in North America,” said Samsung SDI President and CEO Yoon-ho Choi. “The second plant will accelerate our market penetration into the US and help Stellantis push forward the US. transition to an era of electric vehicles by supplying the products featuring the highest levels of safety and quality,” he claimed.
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*Samsung SDI
Samsung SDI is a manufacturer of rechargeable batteries for the IT industry, automobiles, and energy storage systems (ESS), as well as materials used to produce semiconductors and displays.
**Stellantis
Stellantis N.V. (NYSE / MTA / Euronext Paris: STLA) is one of the world’s major automakers. Its brands include Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep®, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys. Stellantis has announced plans to have global annual battery electric vehicle sales of five million vehicles by 2030, reaching 100% of passenger car BEV sales mix in Europe and 50% passenger car and light-duty truck BEV sales mix in North America. Stellantis also increased planned battery capacity by 140 GWh to approximately 400 GWh, to be supported by five battery manufacturing plants together with additional supply contracts. This announcement is part of the long-term electrification strategy to invest $35 billion (€30 billion) through 2025 in electrification and software globally.