Stellantis and Samsung SDI found an agreement to jointly build a Gigafactory in Indiana, U.S. The target of the two companies is to open the lithium-ion battery production plant by 2025. The joint venture implies investments for $2.5 billion (€2.3 billion), while the plant, which will be located in the city of Kokomo, aims to have an initial annual production capacity of 23 gigawatt hours (GWh), with an aim to increase to 33 GWh in the next few years. The total capacity would increase further as demand for Stellantis electric vehicles is expected to rise.
The schedule of the new Gigafactory planned by Stellantis and Samsung SDI
The new facility will supply battery modules for a range of vehicles produced at Stellantis’ North American assembly plants. Plant construction activities are scheduled to begin later this year with production operations planned to launch in the first quarter of 2025.
At the Indiana factory, Samsung SDI will be applying its cutting-edge technology PRiMX to producing EV battery cells and modules for the North American market. Samsung has launched its premium battery technology brand PRiMX as an industry’s first last year and unveiled the brand at CES 2022 in January.
Decarbonizing the future
«Just under one year ago, we committed to an aggressive electrification strategy anchored by five gigafactories between Europe and North America», said Carlos Tavares, CEO of Stellantis. «Today’s announcement further solidifies our global battery production footprint and demonstrates Stellantis’ drive toward a decarbonized future outlined in Dare Forward 2030».
«We express our gratitude towards officials from the State of Indiana and Stellantis for supporting the final selection of the plant site in Indiana», added Yoonho Choi, chief executive officer of Samsung SDI. «We have secured a solid foothold in a rapidly growing North American EV market through the joint venture with Stellantis. We will make sincere efforts to bring satisfaction to the market with top-class quality products in the future, and we will contribute towards meeting the climate change target».