Samsung SDI, Stellantis to build battery plant in the U.S.

2021-10-22 09:56:30

Asian Tech Press (OCT 22) -- South Korea's Samsung SDI announced Friday that it had reached an agreement with Stellantis, the world's fourth-largest car company, to form a joint venture plant in the United States to produce EV battery packs and modules.

The company said in a statement that it plans to launch the plant in the first half of 2025, with an initial annual battery capacity of 23 gigawatt-hours (GWh). The joint venture's annual battery production capacity could increase to 40gwh in the future, powering about 670,000 electric vehicles. Batteries from the plant will be supplied to Stellantis' plants in the U.S., Canada and Mexico. The site for the plant is under evaluation.

Samsung SDI Stellantis joint venture EV battery

Email Subscription

Newsletters and emails are now available! Delivered on time, every weekday, to keep you up to date with North American business news.

Weekly Highlights

                                    Taiwan's weighted index rose 2.6%, with semiconductor stocks leading the gains, and TSMC rising more than 4%
                            2024-12-23

                                    Huawei's Automotive BU spin-off is in the countdown, and old employees are expected to receive extra compensation when they transfer to other companies? Insider: I haven't heard of it.
                            2024-12-27

                                    Tuanmaimai, the WeChat community group buying business under Meituan (03690.HK), issued an announcement stating that due to platform business adjustments, Tuanmaimai will cease operations from 24:00 on December 31, 2024.
                            2024-12-23

                                    Mao Yinian, Vice President of Meituan: Meituan has invested in several robot companies including Yushu and Galaxy General
                            2024-12-27

                                    A-share SMIC rose more than 5%
                            2024-12-27