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Stellantis and Samsung: a $ 2.5 billion joint venture

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Stellantis and Samsung: a $ 2.5 billion joint venture

The famous strategic plan Dare Forward 2030, with which Stellantis announced its intention produce five million electric vehicles in 2030 (reaching 100% of the sales mix in Europe with battery cars and 50% of cars and light commercial vehicles in North America) is starting to take shape. And finally we understand how Stellantis can make it happen: a joint venture with Samsung has just been announced for the construction of an electric vehicle battery manufacturing facility in Kokomo, Indiana, United States. The plant is expected to start production in 2025 and create up to 1,400 new jobs.

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Also declared the power: the plant will have initially an annual production capacity of 23 gigawatt hours, with the aim of increasing it up to 33 gigawatt hours. In short, now everything becomes clearer. Also from the point of view of investments (Stellantis had announced a commitment of 35 billion dollars by 2025, in electrification and software on a global level): the joint venture will invest over $ 2.5 billion which could gradually increase to reach 3.1 billion. The whole creating 1,400 new jobs in Kokomo and surrounding areas.

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The strategy explains it all the same Carlos Tavares: “A little less than a year ago – said the CEO of Stellantis – with five giant factories between Europe and North America, we are committed to implementing an ambitious electrification strategy. Today’s announcement further strengthens our production of batteries at the worldwide and demonstrates Stellantis’ commitment to creating that carbon-neutral future outlined in the Dare Forward 2030 plan. I am grateful to Governor Holcomb, Secretary Chambers, Mayor Moore and their teams, as well as to all my colleagues for their support and commitment to bring this operation to Kokomo, a city whose relationship with our company has a rich and long history. ” And Tavares did not use the word “ambitious” by chance: many analysts said they were skeptical about the possibility of carrying out the “Dare Forward 2030” plan, but now with the help of the giant Samsung everything is possible.

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But also the same Samsung celebrates because only thanks to the support of Stellantis (which we recall has a very strong presence in the USA with Chrysler) has it managed to obtain a solid foothold in the North American market, which is rapidly growing in the electric vehicle segment.

At the Indiana plant, Samsung and Stellantis will apply cutting-edge technology PRiMX to the production of cells and modules for EV batteries for the North American market: the “Prime Battery for Maximum Experience” are very high performance accumulators with high nickel content cathode and silicon anode. In addition, in this type of batteries the distance (and consequently the resistances) that the lithium ions have to travel inside the cell is reduced to a minimum. Translated, it means having very high performance, up to 5 times higher than that of other car batteries

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