Around 1.97 billion dollars will be invested by Samsung SDI Co. for its second battery production plant, which will be located in the United States and will be developed in collaboration with Stellantis N.V.’s company, the South Korean tech company said in an announcement on Wednesday. Stellantis and Samsung SDI announced their intention to develop their first battery production plant in Kokomo, Indiana, in May 2022. This facility is planned to be initiated in the quarter-one phase of 2025, and 33 GWh will be produced per year with an initial target of 23 GWh.
This new plant claimed to help both firms meet their intriguing goal of offering at least 25 new battery-electric vehicles to the North American market by the end of the decade. After two months of their US partnership, the announcement emerged: StarPlus Energy revealed plans to establish a second battery facility in Indiana. It is important to note that there is already one battery facility under construction in the state, which is the first plant. The expenditure for the second facility corresponds to Samsung SDI’s 51 percent ownership in the proposed project.
As per the reports, the investment will be initiated from April 2024 to November 2027. An yearly output of 33 GWh was the aimed result for the first battery facility, an increase from the earlier target of 23 GWh. This corresponds to the operations slated to commence in the first quarter of 2025. As of now, the new plant’s site has not been determined, but the firm may notify it soon in an announcement. With an initial output capacity of 34 gigawatt hours (GWh) per year, the second battery factory will be operational in 2027.
