Announcing last week that it signed a battery plant agreement with LG Energy Solutions to be commissioned in 2024, Stellantis also announced a joint venture with another technology company, Samsung SDI. Accordingly, it was noted that the two companies will form a joint venture for battery cells and modules in North America.
The facility, which will be implemented in partnership with Samsung SDI, is targeted to be commissioned in 2025. According to the statement, it will initially have an annual production capacity of 23 gigawatt hours and the production capacity may increase to 40 gigawatt hours in the future
“Our strategy of working with globally recognized partners supports the speed and agility needed to design and build safe, affordable and sustainable vehicles exactly as our customers demand,” said Carlos Tavares, Stellantis CEO.
"With the battery joint venture, we will do our best to meet the high standards of customers in the North American electric vehicle market by leveraging Samsung SDI's battery technology, quality products and safety measures," said Young-hyun Jun, President and CEO of Samsung SDI.
30 billion euros will be spent
Stellantis, which aims to have 40 percent of sales in the USA by 2030, will be electric vehicles, and will supply batteries to Stellantis assembly plants in the USA, Canada and Mexico to be used in new generation electric vehicles, including rechargeable hybrid and all-electric vehicles belonging to the brands within the group.
Stellantis plans to invest over €30 billion in electrification and software development by 2025, while aiming to continue to be 30 percent more efficient than the industry in terms of total capital expenditure and R&D expenditure relative to revenues.
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