Stellantis announces that it will build a battery factory for momentary electric vehicles in the United States from a joint venture with Samsung.
The automaker did not disclose the location but said on Monday it had signed a memorandum with Samsung SDI as part of its existing joint venture called StarPlus Energy.
The new plant will open in early 2027, joining a joint venture in Kokomo, Indiana, which is already structured and is expected to begin production in early 2025.
Chief Executive Officer Carlos Tavares said in a statement that the current plant will help the company bring at least 25 new battery electric vehicles to North America through the end of the decade.
Stellantis predicts that part of its passenger car and light truck sales in the U. S. will be more likely to be in the U. S. The U. S. will be battery electric until 2030. La company wants 100% of its sales in Europe to be electric within the same time period.
No financial highlights of the new venture have been published.
The Kokomo plant, about 97 miles north of Indianapolis, will employ up to 1,400 and charge about $2. 5 billion.
Earlier, the company also announced a $4100 million battery plant in Windsor, Ontario, that would employ about 2500 people. It is a joint venture with LG Energy Solution.
Stellantis was created in 2021 through the merger of Fiat Chrysler and France’s PSA Peugeot.