In June 2022, Stellantis N.V. and Samsung SDI (Samsung Digital Interface) announced that they would establish an electric-vehicle battery manufacturing facility in Kokomo, Indiana, US Target to start in 2025. The plant aims to have an initial annual production capacity of 23 gigawatt-hours (GWh), expected to increase by 33 GWh in the next few years. The total capacity depends upon demand. It happened during Samsung Electronics Vice-Chairman Lee Jae-Yong and Stellantis chairman John Elkann alongside US President Joe Biden’s recent visit to Samsung Electronics Pyeongtaek campus.
Stellantis N.V. is a multinational automotive manufacturing corporation formed in 2021 based on a 50-50 cross-border merger between the Italian-American conglomerate Fiat Chrysler Automobiles and the French PSA Group. The company is headquartered in Amsterdam.
Samsung SDI Co., Ltd. is a battery and electronic materials manufacturer headquartered in Yongin, Gyeonggi-do, South Korea. Samsung SDI operates its business in Energy Solutions and Electronic Materials segment.
This joint venture will invest over $2.5 billion and could gradually increase to $3.1 billion.
The new facility will supply battery modules for a range of vehicles produced at Stellantis North American assembly plants. Plant production operations are planned to launch in the first quarter of 2025.
At the Indiana factory, Samsung SDI will be applying PRiMX technology to produce EV battery cells and modules for the North American market. Samsung launched its premium battery technology brand PRiMX and unveiled the brand at CES 2022 in January.
Companies plan to invest $35 billion globally by 2025 in electrification and software.
Currently, Samsung Electronics vice-chairman Lee Jae-Yong is in Munich, Germany, for M&A meetings with automakers and semiconductor manufacturers. Siemens and Infineon Technologies have also expected destinations for Samsung Vice-President. At the same time, rumors suggest that Samsung could acquire Infineon.
Samsung heir and VP Lee Jae Yong’s meeting goal in the Netherlands would be to strike an m&a deal with a dutch semiconductor equipment manufacturer ASML and a probable meeting with traditional chip-making giants like Infineon Technologies & STMicroelectronics.
Vice-Chairman and European Commission or Parliament officials could conduct a meeting in Belgium to invest 45 billion euros semiconductor sector until 2030.
Stellantis heir & chairman John Elkann and Samsung heir and VP Lee Jae Yong are considered long-term friends after their meeting when Elkann visited Korea in 2010, getting invited by the Vice President of Samsung.
Also, Dutch Prime Minister Mark Rutte and the Vice-Chairman of Samsung may have a meeting.
LG is already ahead in the race with tie-ups with GM, while Sk is with Ford. Samsung plans to be at par with a series of meetings and m&a deals.
This all happened and has been developing since the US President’s visit to S.Korea.
“Investments like these will help catapult us toward a clean energy future, which we both badly need, advancing our shared economic growth, our energy security, and our climate goals.”
-Joe Biden, US President.
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