Automotive company Stellantis and battery manufacturer Samsung have formed a joint venture to build a battery factory in the United States. Production in the US state of Indiana is scheduled to start in 2025.
Stellantis and Samsung form joint venture to build battery factory
Stellantis
Stellantis and Samsung have reached an agreement for a joint venture. Together, they plan to build a battery factory in Kokomo in the U.S. state of Indiana. To this end, the partners are investing more than 2.5 billion US dollars. Construction of the plant is to begin this year. It is scheduled to go into operation in 2025, with an initial annual production capacity of 23 GWh planned. Capacity is expected to increase to 33 GWh or more in subsequent years.
The new plant will supply battery modules for Stellantis models produced in North America. The carmaker plans to initially shift 50 % of sales there to battery-electric cars and light trucks by 2030, according to its electrification strategy. Samsung SDI will use its current PRiMX technology there to manufacture battery cells and modules for electric vehicles for the North American market, which was launched last year.