Stellantis and Samsung SDI establish battery manufacturing joint venture
By Bradley Osborne - 22nd June 2022
USA – Stellantis NV, an automotive manufacturing corporation based in Amsterdam, Netherlands, has entered into a binding agreement with battery manufacturer Samsung SDI Co Ltd of Yongin, South Korea to establish a joint-venture battery manufacturing facility in Kokomo, Indiana, USA for powering electric vehicles.
The joint venture will invest over USD2.5bn in the lithium-ion battery facility, creating over 1,400 jobs, with scope to increase the investment to USD3.1bn. On opening in 2025, the plant will target an initial manufacturing capacity of 23 GWh per year, increasing to 33 GWh over the following years. Construction of the plant is slated to begin later this year.
