Samsung SDI Plans $2B Investment To Build Second Joint Battery Plant In US With Stellantis: Report
Portfolio Pulse from Shivani Kumaresan
Samsung SDI Co Ltd plans to invest $2 billion to establish a new electric vehicle battery facility in the U.S. in partnership with Stellantis N.V. (NYSE:STLA). The investment will span from April of next year until November 2027. The plant, which is part of the existing StarPlus Energy joint venture, aims to start production in 2027 with an initial annual production capacity of 34 gigawatt-hours.
September 27, 2023 | 4:23 pm
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Stellantis is partnering with Samsung SDI to establish a new EV battery facility in the U.S. The $2 billion investment could potentially boost Stellantis' position in the EV market.
The partnership with Samsung SDI and the significant investment in a new EV battery facility could potentially strengthen Stellantis' position in the EV market. This could lead to increased investor confidence and a potential rise in the company's stock price in the short term.
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