Reuters reported that Stellantis and Samsung SDI plan to announce on May 24, according to people familiar with the matter.A new battery plant will be built in Indiana to speed up Stellantis’ plans for electric vehicle production.
Stellantis and Samsung SDI have reportedly signed a memorandum of understanding to form a joint venture to produce lithium-ion batteries in North America. The plant aims to start production in 2025,23 GWh of annual production capacity initially, will increase to 40 GWh of annual capacity in the future.
Stellantis and Samsung SDI had no immediate comment on May 23 (yesterday), but Stellantis saidAn update on the company’s future Kokomo, Indiana operations will be provided on May 24.
The joint venture battery plant is expected to be built near Stellantis’ engine, foundry and transmission plant in Kokomo, Indiana, people familiar with the matter said.
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