Samsung SDI-Stellantis to Establish Joint Factory in Indiana, USA... Announcement on the 24th

[Asia Economy Reporter Jeong Hyunjin] Major foreign media reported on the 23rd that Samsung SDI and Stellantis are scheduled to announce on the 24th (local time) plans to establish a new electric vehicle battery production plant in Indiana, USA.

Earlier, the two companies signed a memorandum of understanding (MOU) last October to build an electric vehicle battery cell and module production plant in the United States with an annual capacity of 23 GWh (gigawatt-hours). At that time, the joint venture stated that it aims to start plant operations from the first half of 2025.

This report came shortly after U.S. President Joe Biden’s visit to South Korea. During his visit on the 20th, President Biden visited Samsung Electronics’ semiconductor plant in Pyeongtaek, Gyeonggi Province (Pyeongtaek Campus), where he mentioned, "I understand that Samsung is collaborating with our Department of Commerce to establish a joint venture for battery production, specifically for electric vehicle batteries."

Stellantis is an automaker formed last year through the merger of Fiat Chrysler Automobiles (FCA) and PSA Group, and it owns 14 automobile brands including Fiat, Chrysler, Peugeot, Jeep, and Maserati.