Stellantis: joint venture with Samsung SDI
(CercleFinance.com) - Stellantis and Samsung SDI have announced an investment of over 2.
5 billion dollars in a joint venture to build a lithium-ion battery production plant for electric vehicles in Kokomo, Indiana, USA.
This investment could gradually be increased to 3.1 billion dollars (2.9 billion euros).
The plant, which is set to be commissioned in 2025, is expected to have an initial annual production capacity of 23 gigawatt hours (GWh), with the groups aiming to increase this to 33 GWh in subsequent years. The total capacity could be further increased to keep pace with the expected increase in demand for Stellantis' electric vehicles, it said.
The joint venture plans to create 1,400 new jobs in and around Kokomo.
The new facility will produce battery modules for the various vehicles from Stellantis' assembly plants in North America.
In spite of this second proactive news, Stellantis shares are pretty flat in early trading today.
Copyright (c) 2022 CercleFinance.com. All rights reserved.
5 billion dollars in a joint venture to build a lithium-ion battery production plant for electric vehicles in Kokomo, Indiana, USA.
This investment could gradually be increased to 3.1 billion dollars (2.9 billion euros).
The plant, which is set to be commissioned in 2025, is expected to have an initial annual production capacity of 23 gigawatt hours (GWh), with the groups aiming to increase this to 33 GWh in subsequent years. The total capacity could be further increased to keep pace with the expected increase in demand for Stellantis' electric vehicles, it said.
The joint venture plans to create 1,400 new jobs in and around Kokomo.
The new facility will produce battery modules for the various vehicles from Stellantis' assembly plants in North America.
In spite of this second proactive news, Stellantis shares are pretty flat in early trading today.
Copyright (c) 2022 CercleFinance.com. All rights reserved.