Samsung plans to enter the North American electric vehicle battery market. To do this, she plans to build her first battery factory in the United States.
According to SamMobile, citing an official press release, Samsung has already signed an agreement with the multinational automobile corporation Stellantis. As part of the joint cooperation, the South Korean tech giant will build its first factory in the United States to produce batteries for electric vehicles. Thus, Samsung SDI, the battery division of Samsung, will be able to compete on equal terms with LG Energy and SK On.
“I am delighted to announce a joint venture with Stellantis that will accelerate electrification and improve sustainability. We will do our best to provide the highest level of customer satisfaction in the electric vehicle market, ”said the head of Samsung SDI.
Samsung SDI and Stellantis plan to start producing batteries for electric vehicles in the first half of 2025. These batteries will be used in hybrid and all-electric vehicles produced for the Canadian, Mexican and US markets by brands owned by Stellantis. The Korean company in its press release said that the annual production capacity of the new plant will initially be about 23 GWh, and in the future it is planned to increase this figure to 40 GWh.
Samsung did not disclose the amount of investment in the new production. And the exact location of the future plant is also kept secret.
Recall that Samsung SDI is one of the world’s largest manufacturers of batteries. Korean-made batteries are already being installed in electric vehicles such as the Fiat 500e and Jeep Wrangler 4xe.
As for Stellantis, this corporation was formed in 2021 as a result of the merger of the Italian-American automaker Fiat Chrysler Automobiles with the French company Groupe PSA. It owns 14 car brands, including such well-known brands as Alfa Romeo, Chrysler, Fiat, Jeep, Opel, Maserati and Peugeot.
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