Stellantis and Samsung SDI to Form Joint Venture for Lithium-Ion Battery Production in North America

October 22, 2021

, AMSTERDAM

Stellantis N.V. (NYSE / MTA / Euronext Paris: STLA) and Samsung SDI now announced that their companies have entered into a chit of bargain to form a corner try to furnish battery cells and modules for North America.  Targeted to start in 2025, a plant aims to have an initial annual prolongation ability of 23 gigawatt hours, with a ability to boost adult to 40 gigawatt hours in a future. 
 
“With a stirring battery plants entrance online, we will be good positioned to contest and eventually win in a North American electric car market,” pronounced Carlos Tavares, CEO of Stellantis. “Our strategy to work with rarely famous partners boosts a speed and lively indispensable to pattern and build safe, affordable and tolerable vehicles that compare accurately what a business demand. we am grateful to all a teams operative on this vicious investment in a common future.”
 
“It is an honour for us to build a battery corner try with Stellantis who is accelerating a foundation plan in this immature appetite era,” pronounced Young-hyun Jun, President and CEO of Samsung SDI. “With this battery corner venture, we will do a best to accommodate a high standards of a business in a North American EV marketplace leveraging Samsung SDI’s battery technology, high peculiarity products and reserve measures.”
 
Stellantis is now good modernized in a routine of securing annual prolongation ability for electric car batteries, paving a approach to achieving 40% of a sales in a U.S. comprised of electrified vehicles by 2030.
 
The battery plants will perform a needs of Stellantis public plants via a U.S., Canada, and Mexico for designation in next-generation electric vehicles trimming from plug-in accumulation to full battery electric vehicles that will be sole underneath a Stellantis family of brands.
 
Stellantis skeleton to deposit some-more than €30 billion by 2025 in foundation and program development, while targeting to continue to be 30 percent some-more fit than a attention with honour to sum Capex and RD spend contra revenues.
 
The plcae of a new trickery is now underneath examination and serve sum will be common during a after date.
 
The transaction is theme to agreement on decisive support and prevalent shutting conditions, including regulatory approvals.
 
About Stellantis
Stellantis is one of a world’s heading automakers and a mobility provider, guided by a transparent vision: to offer leisure of transformation with distinctive, affordable and arguable mobility solutions. In further to a Group’s abounding birthright and extended geographic presence, a biggest strengths distortion in a tolerable performance, abyss of believe and a wide-ranging talents of employees operative around a globe. Stellantis leverages a extended and iconic code portfolio, that was founded by visionaries who infused a marques with passion and a rival suggestion that speaks to employees and business alike. Stellantis aspires to turn a greatest, not a biggest while formulating combined value for all stakeholders as good as a communities in that it operates.
 
About Samsung SDI
Samsung SDI is a manufacturer of rechargeable batteries for a IT industry, automobiles, and appetite storage systems (ESS), as good as cutting-edge materials used to furnish semiconductors and displays. Our executive managers and staff members concentration efforts to rise a subsequent generation’s expansion drivers in sequence to secure Samsung SDI’s place as a artistic personality in a appetite and cutting-edge materials industry.

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