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

SEOUL (Reuters) – South Korea’s Samsung SDI Co Ltd has announced its plans to invest 2.7 trillion won ($2.00 billion) in the construction of a second joint electric vehicle (EV) battery plant with Stellantis NV in the United States. The battery maker stated in a regulatory filing that the investment will be implemented from April to November 2027. The companies had previously disclosed their intention to establish a joint-venture plant in the United States with an annual production capacity of 34 gigawatt hours (GWh) and a targeted production commencement in 2027. The current exchange rate is $1 to 1,351.3700 won. Reporting by Heekyong Yang; Editing by Kim Coghill.

Credit: The Star : Tech Feed

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