Stellantis, the auto-making conglomerate formed in 2021 through a merger of Fiat Chrysler and France’s PSA Peugeot that houses brands such as Fiat, Jeep, Ram, Dodge and Maserati, said it would build a second U.S. EV battery factory in a joint venture with Samsung. The new factory, location undisclosed, is scheduled to open in 2027.
Stellantis is currently building a battery factory in Kokomo, Indiana, that will employ up to 1,400 workers and cost about $2.5 billion and that is also a joint venture with Samsung. It is slated to open in 2025.
According to AP, “CEO Carlos Tavares said in a prepared statement that the second plant will help the company offer at least 25 new battery-electric vehicles in North America by the end of the decade.”
“By establishing the joint venture with Stellantis last year, we laid a solid groundwork for marking our presence in North America,” remarked Samsung SDI president and CEO Yoon-ho Choi. “The second plant will accelerate our market penetration into the U.S. and help Stellantis push forward the U.S. transition to an era of electric vehicles by supplying the products featuring the highest levels of safety and quality.”
Stellantis is planning for half its U.S. passenger car and light truck sales to be battery electric by 2030, and for all of its European vehicles to be electric at that point.
The company is also building a $4.1 billion battery plant in Windsor, Ontario, that would employ about 2,500 people through a joint venture with LG Energy Solution.
According to Reuters, “In 2021, Stellantis said it planned to pump $35 billion into EV production and software globally through 2025.”