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Share Name Share Symbol Market Type
Stellantis NV BIT:STLA Italy Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.008 -0.06% 12.42 12.434 12.44 12.766 12.29 12.482 9,393,955 16:35:56

Stellantis, Samsung SDI to Make EV Batteries in North America

22/10/2021 6:39am

Dow Jones News


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By Cristina Roca

 

French-Italian car maker Stellantis NV has entered into a memorandum of understanding with South Korean electronic component maker Samsung SDI Co. to make battery cells and modules for North America, it said Friday.

The move is part of Stellantis's plan to make electric cars represent 40% of its sales in the U.S. by 2030, the company said.

The plant should have an initial annual production capacity of 23 gigawatt hours, with the ability to increase it to up to 40 gigawatt hours. The plant is expected to start in 2025. Its location is still under review.

On Monday, Stellantis said it was partnering with LG Energy Solution to build a battery plant for the North American market as well. The plan should have production capacity of 40 gigawatt hours annually, it said.

 

Write to Cristina Roca at cristina.roca@wsj.com

 

(END) Dow Jones Newswires

October 22, 2021 01:24 ET (05:24 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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