Samsung SDI, a South Korean battery maker, has announced its plans to invest $2 billion in building a second joint electric vehicle (EV) battery plant in the United States with Stellantis. The investment is set to take place from April to November 2027. In July, the two companies revealed their intention to establish a joint-venture plant in the US with an annual production capacity of 34 gigawatt hours (GWh), aiming to commence production in 2027. This move signifies Samsung SDI’s commitment to ramping up its EV battery production capacity and catering to the growing demand for electric vehicles globally.
With this investment, Samsung SDI aims to strengthen its presence in the US EV market and solidify its partnership with Stellantis. The growth in demand for electric vehicles is driving the need for increased battery production capacity, and Samsung SDI intends to meet this demand by expanding its operations. The new battery plant will contribute to reducing the reliance on imported batteries and further boost the local supply chain for EV batteries in the United States. By establishing a stronger foothold in the American market, Samsung SDI and Stellantis seek to capitalize on the expanding EV industry and position themselves as key players in the electric vehicle battery market.
This announcement aligns with the global shift towards sustainable transportation and the growing emphasis on reducing carbon emissions. The EV market continues to gain traction worldwide, with governments and automakers alike pledging to phase out internal combustion engine vehicles. Samsung SDI’s investment not only supports the development of EV technology but also promotes economic growth by creating job opportunities and enhancing the domestic battery manufacturing industry in the United States. As the demand for electric vehicles continues to soar, advancements in battery technology and production capacity are crucial to meet the evolving needs of the market.