Asia Express - Consumer Electronics
US-based Stellantis Joins Forces with Samsung SDI to Expand Battery Factory
October 13, 2023

Stellantis has announced a US$3.2 billion investment in building its second battery plant in Indiana in cooperation with Samsung SDI with an aim to tap the burgeoning opportunity in the automotive battery industry, the Commercial Daily News reported on October 13. In September, Samsung SDI had previously announced a 2.7 trillion Korean Won (approximately US$2.01 billion) investment to collaborate once again with Stellantis in establishing a battery plant. Through their joint venture, StarPlus Energy, the two companies are already investing US$2.5 billion to construct their first battery plant in Kokomo, Indiana, with production expected to commence in the first quarter of 2025. The newly planned second battery plant in the same location is projected to start production in early 2027. It will mark Stellantis's sixth battery plant worldwide with its annual production capacity projected to reach 67 million KWh (Kilowatt-hours).