Stellantis and Samsung to build second US battery plant

Stellantis NV and South Korean company Samsung SDI Co. signed an agreement to build a second battery plant in the US as the automaker expands its range of electric vehicles.

Last year, Stellantis and Samsung SDI announced plans to build a $2.5 billion battery plant with an annual capacity of 33 GWh in Kokomo, Indiana. The site for the second factory has not yet been chosen.

“This new facility will further our ambitious goal of offering at least 25 new battery electric vehicles to the North American market by the end of the decade,” said Carlos Tavares, CEO of Stellantis.

According to CEO Choi Yoon-ho, Samsung SDI will accelerate its entry into the US market by building a new factory.