Samsung SDI to Invest $2 Billion in Second Stellantis Battery JV Plant
September 27 2023 - 12:07AM
Dow Jones News
By Kwanwoo Jun
South Korean battery maker Samsung SDI plans to invest almost $2
billion in a second U.S.-based plant for the joint venture with
carmaker Stellantis.
Samsung SDI said Wednesday that it will invest 2.656 trillion
won ($1.98 billion) to secure a 51% stake in the new plant for
StarPlus Energy, a JV with Stellantis.
The planned investment will be made over three years from April
2024 through November 2027, the South Korean company said in a
regulatory filing.
The plant aims to start mass production in 2027, with an annual
production capacity of 34 gigawatt hours, it added.
Samsung SDI and Stellantis, which run the StarPlus Energy JV in
Indiana, are currently building the first plant, with production
expected to start in early 2025.
Write to Kwanwoo Jun at kwanwoo.jun@wsj.com
(END) Dow Jones Newswires
September 26, 2023 23:52 ET (03:52 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
Samsung SDI (PK) (USOTC:SSDIY)
Historical Stock Chart
From Jan 2025 to Feb 2025
Samsung SDI (PK) (USOTC:SSDIY)
Historical Stock Chart
From Feb 2024 to Feb 2025
