Tuesday, July 5

Stellantis, Samsung SDI to build new JV battery plant in Indiana -sources

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Stellantis NV and Samsung SDI plan to announce on Tuesday they will build a new battery plant in Indiana as the Chrysler-parent ramps up electric vehicle production plans.

The companies in October announced https://www.stellantis.com/en/news/press-releases/2021/october/stellantis-and-samsung-sdi-to-form-joint-venture-for-lithium-ion-battery -production-in-north-america they were forming a joint venture for lithium ion battery production in North America and said the plant was targeted to start in 2025 and aimed to have an initial annual production capacity of 23 gigawatt hours, with the ability to increase to up to 40 gigawatt hours in the future.

The companies did not immediately comment Monday. (Reporting by David Shepardson Editing by Chris Reese)