Stellantis, Samsung SDI to build new JV battery plant in Indiana -sources
By David Shepardson
(Reuters) -Stellantis NV and Samsung SDI plan to announce on Tuesday they may construct a brand new battery plant in Indiana because the Chrysler-parent ramps up electrical automobile manufacturing plans, sources briefed on the matter instructed Reuters.
The businesses they had been signing a memorandum of understanding to type a three way partnership for lithium ion battery manufacturing in North America and stated the plant was focused to start out in 2025 and aimed to have an preliminary annual manufacturing capability of 23 gigawatt hours, with the power to extend to as much as 40 gigawatt hours sooner or later.
The businesses didn’t instantly remark Monday, however Stellantis stated it might present an replace on the way forward for its Kokomo operations on Tuesday that would come with its North American chief working officer Mark Stewart and Indiana Governor Eric Holcomb.
The JV battery plant is anticipated to be constructed close to Stellantis engine, casting and transmission vegetation in Kokomo, Indiana, the sources stated, declining to be named as a result of the announcement isn’t but public.
In October, Stellantis stated it might make investments $229 million in its three Kokomo vegetation to provide electrified, eight-speed transmissions.
In March, Stellantis and LG Vitality Resolution stated they’d make investments $4.1 billion for a three way partnership lithium-ion battery manufacturing plant in Canada that can have an annual manufacturing capability in extra of 45 gigawatt hours. The businesses plan to start operations in 2024.
President Joe Biden at a go to to Samsung Electronics Pyeongtaek campus in South Korea on Friday highlighted the deliberate funding, saying “Samsung can 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 automobiles.”
He urged the businesses to “enter into partnerships” with “American union members” and stated JVs “that manufacture electrical automobile batteries could be made stronger by collective bargaining relationships with America unions.”
Biden backed laws final 12 months that may give union-assembled U.S.-built electrical automobiles a further $4,500 tax credit score however that stalled in Congress.
(Reporting by David Shepardson; Modifying by Bernard Orr)
