AMSTERDAM, July 24, 2023 /PRNewswire/ —
- Joint venture to build battery plant plans to start production in early 2027
- Facility to have an initial annual production capacity of 34 gigawatt-hours (GWh)
- Stellantis and Samsung SDI currently building a gigafactory in Kokomo, Indiana, with launch expected in first quarter of 2025
- Gigafactory intended to be the sixth battery facility to support Stellantis’ bold electrification plan outlined in Dare Forward 2030
Stellantis N.V. and Samsung SDI today announced that they have signed a memorandum of understanding to establish a second battery manufacturing facility in the United States, under the existing StarPlus Energy joint venture. Targeted to start production in 2027, the plant aims to have an initial annual production capacity of 34 gigawatt-hours (GWh).
In May 2022, Stellantis and Samsung SDI announced their commitment to build a first battery manufacturing facility in Kokomo, Indiana. Targeted to launch in the first quarter of 2025, the plant will have an annual production of 33 GWh, up from the initial target of 23 GWh.
“This new facility will contribute to reaching our aggressive target to offer at least 25 new battery-electric vehicles for the North American market by the end of the decade,” said Stellantis CEO Carlos Tavares. “We are continuing to add more capacity in the United States together with our great partner Samsung SDI and laying the next steps to reaching our carbon neutrality commitment by 2038.”
“By establishing the joint venture with Stellantis last year, we laid a solid groundwork for marking our presence in North America,” remarked Samsung SDI President and CEO Yoon-ho Choi. “The second plant will accelerate our market penetration into the U.S. and help Stellantis push forward the U.S. transition to an era of electric vehicles by supplying the products featuring the highest levels of safety and quality.”
As part of the Dare Forward 2030 strategic plan, Stellantis announced plans of reaching 100% of passenger-car battery-electric vehicle (BEV) sales mix in Europe and 50% of passenger car and light-duty truck BEV sales mix in the United States by 2030. To achieve these sales targets, the company is securing approximately 400 GWh of battery capacity. Stellantis is on track to become a carbon net zero corporation by 2038, all scopes included, with single-digit percentage compensation of remaining emissions.
The location of the new facility is currently under review and further details will be shared at a later date.
The transaction is subject to the execution of definitive documentation.
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.
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 at https://www.samsungsdi.com/sdi-news/list.html.
STELLANTIS FORWARD-LOOKING STATEMENTS
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SOURCE Stellantis
