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Stellantis (NYSE:STLA) and Samsung SDI (OTCPK:SSDIY) will announce tomorrow that they may construct a brand new battery plant in Indiana, Reuters reported Monday, because the Chrysler father or mother ramps up electrical automobile manufacturing plans.
The joint enterprise plant is predicted to be constructed close to Stellantis (STLA) engine, casting and transmission vegetation in Kokomo, in line with the report.
Final October, the businesses mentioned they have been forming a JV for lithium ion battery manufacturing in North America with an preliminary annual manufacturing capability of 23 GWh with the power to extend to as much as 40 GWh sooner or later, with a focused 2025 start-up date.
Throughout a go to final week to a Samsung Electronics campus in South Korea, President Biden tipped off a deliberate funding, saying “Samsung will even be working with Stellantis on a three way partnership to construct a brand new facility in the US that can manufacture batteries for electrical autos.”
In one other latest acceleration of its electrification technique, Stellantis (STLA) mentioned earlier this month it will spend $2.8B to improve two Canadian meeting vegetation and develop a analysis middle.
