[Asia Economy Reporter Hyungsoo Park] Samjin LND is showing strong performance. The news that Samsung SDI has partnered with the American automobile company Stellantis to establish an electric vehicle battery joint venture appears to be influencing the stock price.
At 10:28 AM on the 19th, Samjin LND was trading at 4,500 KRW, up 20.32% from the previous day.
Samsung SDI, which had maintained an independent path without joint ventures with automakers, is expected to accelerate its entry into the North American market based on cooperation with Stellantis. According to industry sources, Samsung SDI recently signed a Memorandum of Understanding (MOU) with the American automobile company Stellantis to establish an electric vehicle battery joint venture.
For Stellantis, this is the second joint venture with a Korean battery company following LG Energy Solution the previous day. Although specific investment details and the scale of the joint factory have not been disclosed, the industry expects the investment amount to be at least in the trillion KRW range. Stellantis is a company launched in January this year through the merger of the Italian-American automaker Fiat Chrysler Automobiles (FCA) and the French automaker Peugeot Citro?n (PSA). It announced plans to invest approximately 41 trillion KRW (30 billion euros) by 2025 to transition to electric vehicles.
As Samsung SDI supplies electric vehicle batteries to Stellantis following Rivian, expectations for related parts suppliers are also increasing.
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