Samsung SDI to invest $2 billion for second battery plant in US with Stellantis

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ReutersLast Updated: Sep 27, 2023, 12:43 PM IST

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Samsung said in a regulatory filing that it plans to execute the investment starting next April to November 2027.

South Korea's Samsung SDI Co Ltd said on Wednesday it plans to invest $2 billion) to build a second joint electric vehicle (EV) battery plant with Stellantis NV in the United States.

The South Korean battery maker said in a regulatory filing that it plans to execute the investment starting next April to November 2027.

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In July, the two companies said their joint-venture plant in the United States will have an annual production capacity of 34 gigawatt hours (GWh), with a target to start production in 2027.

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