Stellantis-Samsung SDI Joint Venture to Build EV Battery Factory

Multymeter.comOn 12 May 2022, Stellantis and Samsung SDI announced the formation of a joint venture called StarPlus Energy to produce electric vehicle (EV) batteries in the United States (US). This joint venture will have an investment of USD 6.3 billion, which will be used to build two battery factories in Indiana, USA.

Stellantis is a multinational automotive manufacturing company formed in 2021 through the merger of Fiat Chrysler Automobiles (FCA) and PSA Group. The company is headquartered in Amsterdam, the Netherlands.

As of May 2021, Stellantis is the sixth largest automaker in the world, after Volkswagen Group, Toyota, the Renault-Nissan-Mitsubishi Alliance, General Motors and Hyundai Motor Group. The company is listed on the Borsa Italiana, Euronext Paris and the New York Stock Exchange.

Stellantis owns 14 automotive brands, including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep, Lancia, Maserati, Opel, Peugeot and Ram. The company produces a wide range of vehicles, including passenger cars, light commercial vehicles and electric vehicles.

In the agreement, Samsung SDI and Stellantis will build the first plant located in Kokomo, Indiana, US, which will start operations in 2024 and will have a production capacity of 23 GWh. The second plant, also located in Kokomo, Indiana, will start operations in 2025 and will have a production capacity of 40 GWh.

The batteries produced by StarPlus Energy will be used for Stellantis EV vehicles manufactured in the US. Stellantis aims to sell 5 million electric vehicles in the US by 2030.

Here is more information about the Stellantis-Samsung SDI joint venture:

  • Joint venture: StarPlus Energy
    Investment: 6.3 billion US dollars
  • Factory location: Kokomo, Indiana, US
  • Production capacity of the first factory: 23 GWh
  • Production capacity of the second factory: 40 GWh
  • First factory launch: 2024
  • Second factory launch: 2025
  • Battery use: Stellantis EV vehicles made in the USA

The Stellantis-Samsung SDI battery factory is part of Stellantis’ efforts to accelerate the electrification of its fleet. Stellantis aims to achieve 100 percent electric vehicle sales in Europe by 2030 and 50 percent electric vehicle sales in the US by the same year. ****

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