Shulou(Shulou.com)11/24 Report--

CTOnews.com, September 28 (Xinhua) Samsung SDI said on Wednesday that it plans to invest 2.7 trillion won (CTOnews.com Note: currently about 14.58 billion yuan) and Dutch carmaker Stellantis NV to build a second electric vehicle battery factory in the United States. Samsung SDI will own 51% of the new factory.

Samsung SDI and Stellantis agreed in July to build an additional battery plant in the United States with an annual capacity of 34GWh, the first since the establishment of the US joint venture StarPlus Energy in October 2021.

According to sources, they have not yet decided on the location of the second battery plant, but it is expected to be built near the first plant in Cuomo, Indiana. The plant is scheduled to break ground in April 2024 and begin mass production in November 2027.

When Shuangfa's second battery plant is completed and put into production, its joint venture StarPlus Energy will have a total annual battery capacity of 67 GWh in the United States, enough to power more than 1 million electric vehicles.

In addition, the two companies have agreed to increase the total capacity of the first battery manufacturing plant from 23 GWh to 33 GWh. Construction of the first plant began last year and commercial production is expected to begin in the first quarter of 2025.

Samsung SDI, which has been seeking to enter the US electric car battery market by partnering with automakers, announced in June that it had agreed to build an electric vehicle battery factory with General Motors in New Carlisle, Indiana, with the goal of starting operations in 2026. Their goal is to produce more than 30 GWh of batteries a year, enough to meet the needs of more than 350000 electric vehicles. In April this year, the two sides also agreed to set up a joint venture in the United States to produce nickel-rich square and cylindrical batteries with a total investment of 3 billion US dollars.

Samsung SDI and competitors LG Energy Solution Ltd., SK On Co. They are racing to build battery factories in the US in response to the US inflation reduction Act (IRA), which provides up to $7500 in tax credits to buyers of electric cars assembled in North America. To get a tax credit, 40% of the key mineral value of car batteries must come from the United States or a country that has a free trade agreement with the world's largest economy.

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