Home Business Electric Automotive Powerhouse: Stellantis and Samsung SDI Unite Again to Build Cutting-Edge Battery Plant in the USA!

Electric Automotive Powerhouse: Stellantis and Samsung SDI Unite Again to Build Cutting-Edge Battery Plant in the USA!

by Editorial Desk
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Stellantis and Samsung SDI have revealed their plans to construct a second joint-venture battery plant in the United States, aimed at producing electric vehicle batteries. The target for commencing production at this new facility is set for 2027.

Currently, the exact location for the plant is under consideration, and the finalization of the transaction is still pending. Details regarding the total investment in the site and the number of employees it will hire will be disclosed at a later stage. The initial production capacity of the plant is projected to be 34 gigawatt hours (GWh).

Stellantis CEO Carlos Tavares emphasized the significance of this plant in achieving their ambitious goal of introducing at least 25 new battery electric vehicles in the North American market by the end of the decade.

Stellantis, which encompasses renowned brands such as Peugeot, Jeep, Ram, Alfa Romeo, Citroen, and Opel, has previously announced its intentions to achieve 100% electric passenger car sales in Europe and a 50% electric mix for cars and light trucks in the U.S. by 2030. To accomplish this, the company aims to secure approximately 400 GWh of battery capacity. Additionally, Stellantis had revealed plans to invest $35 billion in electric vehicle production and software globally through 2025.

This upcoming battery plant will mark the sixth facility supporting Stellantis’ objectives. The first joint battery plant, set to open in the first quarter of 2025 in Kokomo, Indiana, is a result of Stellantis and Samsung SDI’s joint investment of over $2.5 billion. It is expected to have an initial capacity of 23 GWh, later increasing to 33 GWh. The plant will employ 1,400 individuals, and the investment could potentially rise to $3.1 billion.

Furthermore, Stellantis is collaborating with LG Energy Solution to build a joint-venture battery plant in Windsor, Ontario, Canada, scheduled to open in 2024. This plant will generate 2,500 job opportunities and boast an annual production capacity exceeding 45 GWh.

In addition to this, Samsung SDI and General Motors announced a joint-venture battery plant in the U.S., set to open in 2026 with an annual capacity of 30 GWh. This plant, also located in Indiana, will employ 1,700 people.

It’s worth noting that the United Auto Workers union is in negotiations with Stellantis for a new labor agreement to represent and advocate for higher wages for employees at these joint-venture plants being built by GM, Stellantis, and Ford Motor.

Following the recent announcement, Samsung SDI’s shares experienced an increase of up to 4.1% compared to the 0.8% rise in the benchmark KOSPI index.

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