TORINO – Stellantis and Samsung announce the signing of a memorandum of understanding for the creation of a joint venture aimed at the production of cells and battery modules for North America. A few days after the agreement between Stellantis and Lg, again for the production of batteries in North America, a new agreement concerning the American market. This new agreement will lead to the construction of a new battery factory, which is scheduled to start in 2025: it aims to initially have an annual production capacity of 23 gigawatt hours, with the possibility of increasing it up to 40 gigawatt hours in the future. “With the next battery plants opening their doors shortly, we will be well positioned to compete and ultimately conquer the North American electric vehicle market,” he points out. Carlos Tavares, CEO of Stellantis, company that has among its shareholders Exor that it publishes Republic. “Our strategy of collaborating with highly qualified partners improves speed and agility, characteristics necessary to design and build safe, accessible and sustainable vehicles that meet customer needs in detail.”
Satisfaction with the agreement reached also by Samsung Sdi, specialized in the battery sector: “We are honored to give life to a joint venture dedicated to the production of batteries with Stellantis, a company that is accelerating its electrification strategy in this devoted era. to green energy, “he said Young-hyun Jun, President and CEO of Samsung Sdi. “With this joint venture, we will do everything possible to meet the high standards of our customers in the North American electric vehicle market by leveraging Samsung’s battery technology, high quality products and safety measures.”
The House born from the wedding between FCA and Peugeot in January 2020 is at a good point in the process that aims to ensure the annual capacity necessary for the production of batteries for electric vehicles. The goal is to bring US sales to more than 40% of the total by 2030. Manufacturing facilities will meet the demand for batteries from automotive assembly plants in the US, Canada and Mexico for installation on next generation electric vehicles, ranging from plug-in hybrids to full electric battery powered vehicles, sold as part of the Stellantis brand portfolio. The Tavares-led group plans to invest over 30 billion euros by 2025 in electrification and software development, aiming to maintain 30% more efficiency than the sector average in the ratio of total R&D and capital expenditure to revenues. The location of the new facility is currently being analyzed. The transaction is subject to the final documentation agreement and customary closing conditions, including regulatory approvals.
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