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[Alpha Biz=(Chicago) Reporter Kim Jisun] Samsung SDI will build its second electric vehicle battery plant in the U.S. with U.S. automaker Stellatis.
Samsung SDI announced on the 24th that it signed a memorandum of understanding (MOU) to build a joint venture Star Plus Energy Plant 2 with Stellantis. The second plant, which will be built in 2027, plans to have an annual production capacity of 34 GWh (Gigawatt hour). Although the amount of investment has not been disclosed, the industry expects it to reach 4 trillion won.
In addition, the two companies have decided to increase the computing capacity of their first plant in Cocomoshi, Indiana, from 23GWh to 33GWh since last year. The first plant, which is being built with an investment of about 3.3 trillion won (about 2.5 billion dollars), is scheduled to operate in the first quarter of 2025. The site for the second plant has yet to be confirmed, but Indiana, near the first plant, is said to be the most likely candidate.
Once both the first and second plants are in operation, Samsung SDI is expected to supply a total of 67 GWh of electric vehicle battery capacity to Stellars in the U.S. Considering that 15,000 electric vehicles can be produced per 1GWh battery pack, about 1 million electric vehicles can be produced annually.
CEO Carlos Alvarez Stallantis said, "The new plant will be able to supply at least 25 new electric models to North America by 2030," adding, "We will expand production capacity in the U.S. through continuous cooperation with Samsung SDI in the future."
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
