□ Two companies entered into a MOU to produce battery cells and modules for electric vehicles for North America
□ CEO of Stellantis, Carlos Tavares stated, “Due to the next battery plants that will open the doors shortly, we will attain a good ranking to compete and finally to conquer the North American market of electric vehicles”
23 gigawatt hours, ability to increase up to 40 gigawatt hours
□ “We will do our best to satisfy customers in the North America based on the quality and safety of our products,” said CEO of SAMSUNG SDI, Jun Young-hyun.
□ CEO of Stellantis, Carlos Tavares stated, “Due to the next battery plants that will open the doors shortly, we will attain a good ranking to compete and finally to conquer the North American market of electric vehicles”
SAMSUNG SDI and Stellantis N.V. announced that they have entered into a memorandum of understanding (MOU) to form a joint venture to establish a plant to produce battery cells for electric vehicles in North America. It is the first time for SAMSUNG SDI to establish a North American battery production base with a joint venture.
Having to the U.S.-Mexico-Canada trade agreement (USMCA), taking effect in July, ahead, SAMSUNG SDI could produce battery cells and modules for North America thanks to the joint venture with Stellantis. Also, through this deal, Stellantis could achieve a production capability which enables to set a goal of electric vehicles making up 40% of its U.S. sales by 2030.
The location of the plant has yet to be announced. Production plants will satisfy the demand for batteries by Stellantis assembling factories in the United States, in Canada and in Mexico for the installation on state-of-the-art electric vehicles, which range from hybrid plug-in to full electric battery vehicles, sold in the ambit of the portfolio of Stellantis’ brands
SAMSUNG SDI has already been supplying the EV batteries to Fiat's ‘500e’ and Jeep's ‘Wrangler 4xe’ before signing the MOU. Therefore, it is expected that the cooperation between SAMSUNG SDI and Stellantis will be enhanced thanks to the launch of joint venture.
The new battery plant will increase the number of SAMSUNG SDI’s global production bases to four. The three it has now are in Ulsan, China’s Xian, and Hungary’s God.
Young-hyun Jun, President and CEO of SAMSUNG SDI said; “It is an honor for us to build a battery joint venture with Stellantis who is accelerating its electrification strategy in this green energy era. With this battery joint venture, we will do our best to meet the high standards of our customers in the North American EV market leveraging SAMSUNG SDI’s battery technology, high quality products and safety measures.”
Carlos Tavares, CEO of Stellantis, stated that, “with the forthcoming battery plants coming online, we will be well positioned to compete and ultimately win in the North American electric vehicle market. Our strategy to work with highly recognized partners boosts the speed and agility needed to design and build safe, affordable and sustainable vehicles that match exactly what our customers’ demand. I am thankful to all the teams working on this critical investment in our collective future.”
