SEOUL (Reuters) – South Korea’s Samsung SDI Co Ltd said on Wednesday that it has chosen the U.S. state of Indiana to build its second joint electric vehicle (EV) battery plant with carmaker Stellantis NV.
With their second joint battery factory, the two companies would have a combined annual production capacity of 67 gigawatt hours (GWh) at the Indiana production site, Samsung SDI said in a statement.
The first joint plant is set to start production in the first quarter of 2025 and the second joint plant targets a start in early 2027.
Last month, Samsung SDI said it plans to invest 2.7 trillion won ($2.01 billion) to build its second joint battery plant with Stellantis.
Stellantis, whose brands include Peugeot, Jeep, Ram, Alfa Romeo, Citroen and Opel, has announced plans to reach 100% electric passenger car sales in Europe and 50% car and light truck electric mix in the U.S. by 2030. To achieve that, it has said it wants to secure about 400 GWh of battery capacity.
($1 = 1,340.6500 won)
(Reporting by Heekyong Yang; Editing by Sharon Singleton)
