Key Points
- Stellantis and Samsung SDI sign a memorandum of understanding to establish a second battery manufacturing facility in the United States under the existing StarPlus Energy joint venture, with a targeted production start in 2027 and an initial capacity of 34 GWh.
- This collaboration aims to accelerate the US transition to electric vehicles, supporting Stellantis’ goal of offering 25 new battery electric vehicles for the North American market by the end of the decade and contributing to their commitment of carbon neutrality by 2038.
On Monday, July 24, Stellantis N.V. announced that it has recently joined forces with Samsung SDI to establish a second battery manufacturing facility in the United States, as part of their existing StarPlus Energy joint venture. The plant is set to begin production in 2027 and is projected to have an initial annual capacity of 34 gigawatt hours (GWh) of batteries.
This collaboration follows a prior commitment made in May 2022, when the two companies announced plans to build their first battery manufacturing facility in Kokomo, Indiana. The Kokomo plant, targeted to launch in the first quarter of 2025, will boast an annual production capacity of 33 GWh, surpassing its initial target of 23 GWh.
Stellantis CEO Carlos Tavares expressed his excitement about the new facility, emphasizing its crucial role in achieving their ambitious goal of offering at least 25 new battery electric vehicles for the North American market by the end of the decade. He also highlighted their ongoing efforts to expand capacity in the United States and work with Samsung SDI to fulfill their carbon neutrality commitment by 2038.
Samsung SDI President and CEO Yoon-ho Choi acknowledged the importance of the joint venture with Stellantis, stating that it has laid a solid foundation for their presence in North America. The second battery plant is expected to expedite their market penetration in the U.S. and support Stellantis in driving the transition to electric vehicles, ensuring products with the highest standards of safety and quality.
As part of their Dare Forward 2030 strategic plan, Stellantis has set ambitious targets of achieving a 100% passenger car battery electric vehicle (BEV) sales mix in Europe and a 50% BEV sales mix for passenger cars and light-duty trucks in the United States by 2030. To achieve these goals, the company aims to secure around 400 GWh of battery capacity. Moreover, Stellantis is well on track to becoming a carbon net-zero corporation by 2038, encompassing all scopes and with single-digit percentage compensation for remaining emissions.
At present, the location of the new battery manufacturing facility is under review, and further details will be disclosed at a later date, pending the execution of definitive documentation for the transaction.
About Stellantis
Stellantis N.V. (NYSE: STLA / Euronext Milan: STLAM / Euronext Paris: STLAP) is one of the world’s leading automakers and a mobility provider. Its storied and iconic brands embody the passion of their visionary founders and today’s customers in their innovative products and services, including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep®, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys. Powered by our diversity, we lead the way the world moves – aspiring to become the greatest sustainable mobility tech company, not the biggest, while creating added value for all stakeholders as well as the communities in which it operates. For more information, visit www.stellantis.com.
About Samsung SDI
Samsung SDI, headquartered in the Republic of Korea, is a world-leading battery and electronic material manufacturer redefining the worlds of electric vehicles, energy storage systems and IT devices. The company drives transformation and innovation to emerge as a ‘Creative Energy and Materials Solution Leader’ across the fields of e-mobility, energy solutions, as well as semiconductors and displays. The company commits to sourcing 100% renewable electricity across its entire global operations by 2050. For the latest news, please visit the Samsung SDI News site.
Credits: Photo from media.stellantis.com
