Stellantis-Samsung SDI Plan Second Battery Manufacturing Plant In US
Portfolio Pulse from Lekha Gupta
Stellantis NV (NYSE:STLA) and Samsung SDI have signed a memorandum of understanding to build a second battery manufacturing facility in the U.S. The companies aim to start production in 2027 with an initial annual production capacity of 34 GWh. The new facility is part of the StarPlus Energy joint venture created in May 2022, which had a planned investment of over $2.5 billion.
July 24, 2023 | 9:55 am
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POSITIVE IMPACT
Samsung SDI is partnering with Stellantis to build a second battery manufacturing facility in the U.S.
The new facility could increase Samsung SDI's battery production capacity, potentially boosting its market share and revenues in the long term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Stellantis plans to build a second battery manufacturing facility in the U.S. with Samsung SDI, which could boost its electric vehicle production.
The new facility could increase Stellantis' electric vehicle production capacity, potentially boosting its market share and revenues in the long term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100