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Biz News Korea(Eng)
Samsung SDI, Stellantis select Indiana for second EV battery plant
- Collected
- 2023.10.12
- Distributed
- 2023.10.13
- Source
- Go Direct
![[Courtesy of Samsung SDI]](https://pulsenews.co.kr///file.mk.co.kr/meet/neds/2023/10/image_readtop_2023_781252_16971007005659897.jpg)
[Courtesy of Samsung SDI]
On Wednesday, Samsung SDI and Stellantis revealed their decision to build their second factory, Starplus Energy, near the site of the JV’s first factory which is currently under construction. Kokomo, home to Stellantis’ component manufacturing facility, is expected to serve as a strategic base for Stellantis’s electric vehicle initiatives. Samsung SDI previously announced an investment of $2 billion for the construction of the second JV factory, which is scheduled to begin construction in April 2024 and completed November 2027.
The second factory will have a production capacity of 34 GWh, and combined with the first factory, the total annual production capacity will hit 67 GWh, which is sufficient to power 600,000 to 700,000 electric vehicles.
“The construction of Starplus Energy’s second factory will provide the largest production hub in North America,” Samsung SDI CEO Choi Yoon-ho said.
The joint venture between Samsung SDI and Stellantis is a significant step toward boosting the production of high-capacity batteries for electric vehicles in the United States.
By Song Min-geun and Minu Kim
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