Every major manufacturer is looking for a strong partner when it comes to building batteries. Stellantis makes no exception. The consortium and Samsung SDI announced that their companies have entered into a memorandum of understanding to form a joint venture to produce battery cells and modules for North America.
Targeted to start in 2025, the plant aims to have an initial annual production capacity of 23 gigawatt hours, with the ability to increase up to 40 gigawatt hours in the future.
Stellantis is now well advanced in the process of securing annual production capacity for electric vehicle batteries, paving the way to achieving 40% of its sales in the U.S. comprised of electrified vehicles by 2030.
The battery plants will fulfill the needs of Stellantis assembly plants throughout the U.S., Canada, and Mexico for installation in next-generation electric vehicles ranging from plug-in hybrids to full battery electric vehicles that will be sold under the Stellantis family of brands.
Stellantis plans to invest more than €30 billion through 2025 in electrification and software development, while targeting to continue to be 30 percent more efficient than the industry with respect to total Capex and R&D spend versus revenues.
The location of the new facility is currently under review and further details will be shared at a later date.