Daily Management Review

Stellantis and Samsung SDI to build second battery plant in USA


South Korean company Samsung SDI and European automaker Stellantis NV will invest over $3.2 billion to build the second joint venture for battery production in the US.

Ottaviani Serge
Ottaviani Serge
The new plant will be situated near Kokomo, Indiana, where the firms are already constructing their first facility, according to a news release from Stellantis.

It is anticipated that the second facility would start up in early 2027. 1,400 new jobs will be generated by its debut.

The first factory of Stellantis and Samsung SDI in Kokomo is anticipated to open for business in the first quarter of 2025.

According to the press statement, the two plants will be able to produce batteries with a combined capacity of 67 GWh annually. The two projects will require more than $6.3 billion in total investment.

This new plant will be Stellantis' sixth location for battery manufacturing.

source: reuters.com