Stellantis and Samsung SDI collaborates for the second battery plant in US

The automobile firm Stellantis(Stellantis NV), formerly known as Fiat Chrysler Automobiles NV, was created as a consequence of a merger with PSA Group. The corporation designs, engineers, manufactures, distributes and sells vehicle parts and manufacturing systems. Rechargeable batteries for electric vehicles, IT Energy Storage Systems(ESS), and materials for semiconductors and displays are all produced and distributed by Samsung SDI. Both firms have joined hands for the second time.

The existing StarPlus Energy joint venture will be expanded by the addition of a second battery production plant in the United States, according to a memorandum of agreement signed by Stellantis N.V. and Samsung SDI today. To develop their first joint battery facility, to be opened in Kokomo, Indiana, in the first quarter of 2025, Stellantis and Samsung SDI announced in May 2022 that they would invest more than $2.5 billion starting with a capacity of 23 GWh and gradually increasing to 33 GWh.

The new facility intends to start its operation by 2027 and has 34 GWh as its initial output capacity annually, but they haven’t revealed the facility’s location yet. With single-digit percentage compensation of residual emissions, Stellantis is on target to become a carbon net zero firm by 2038. By 2030, Stellantis’ brands, such as Peugeot, Jeep, Ram, Alfa Romeo, Citroen, and Opel, aim to sell only electric vehicles in Europe along with a mix of 50% cars and light trucks. The firm stated that it needs to obtain around 400 GWh of battery capacity to do that.

Samsung and LG is looking at new OLED technology that enhances light efficiency

Yoon-ho Choi, the CEO and President of Samsung SDI, said that” The second plant will accelerate our market penetration into the U.S. and help Stellantis push forward the U.S. transition to an era of electric vehicles by supplying the products featuring the highest levels of safety and quality.”

Carlos Tavares, Stellantis chief executive, stated that” This new facility will contribute to reaching our aggressive target to offer at least 25 new battery electric vehicles for the North American market by the end of the decade.”

Don’t miss our latest news on Samsung technology. Follow on your favorite social media platforms for instant notifications.

Thanks to “EconomicsTimes