A visitor to Samsung SDI Co.’s exhibition booth at InterBattery 2021 in Seoul looks at an electric vehicle battery pack on June 9, 2021. (Yonhap)
SEOUL, July 24 (Korea Bizwire) — Samsung SDI Co. said Monday it plans to build a second battery manufacturing facility with Stellantis N.V. in the United States, in addition to the ongoing project for their first plant in Indiana.
The two companies signed a memorandum of understanding for the envisioned second battery gigafactory, aiming to start production in 2027 with an initial annual production capacity of 34 gigawatt hours, they said in a joint press release.
The location of the new plant has not been decided, they said.
Details regarding the transaction were not available as it was not finalized.
“The second plant will accelerate our market penetration into the U.S. and help Stellantis advance its U.S. transition to an era of electric vehicles by supplying products featuring the highest levels of safety and quality,” Samsung SDI CEO Choi Yoon-ho said.
Stellantis CEO Carlos Tavares said the new facility “will contribute to reaching our aggressive target of offering at least 25 new battery electric vehicles for the North American market by the end of the decade.”
The joint venture, StarPlus Energy, established in October 2021, announced in May 2022 it would build the first battery manufacturing facility in Kokomo, Indiana, aiming to enter commercial operations in the first quarter of 2025.
The first plant will have an annual production of 33 GWh, up from the initial target of 23 GWh, the companies said.
(Yonhap)
