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Samsung SDI boss meets US officials to discuss its car battery joint venture with Stellantis

Business
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Last updated: August 26th, 2022 at 07:57 UTC+01:00

Last year, Samsung SDI announced that it is entering a joint venture with carmaker Stellantis to set up an EV battery plant in the US. Now, the South Korean firm’s officials met a delegation of officials from the US to discuss the joint venture further.

Samsung SDI President and CEO Yoonho Choi met a delegation from the state of Indiana, USA, yesterday at the Cheonan Plant located in South Korea. The delegation included Indiana state Governor Eric J. Holcomb and Bradley Chambers. Samsung SDI showcased its battery production lines and shared the current status of its joint venture with Stellantis.

Stellantis and Samsung SDI are setting up a $2.5 billion EV battery plant in Kokomo, Indiana. The plant will manufacture lithium-ion battery modules for multiple EV cars from Stellantis, and its construction is expected to begin later this year. The plant will offer hundreds of jobs in the area and could expand further in the coming years.

If you don’t know about Stellantis already, it is the result of a merger of two big automobile brands: Fiat Chrysler Automobiles NV and PSA Groupe. It owns various car brands, including Abarth, Alfa Romeo, Maserati, Fiat, Jeep, Dodge, Chrysler, Citroen, Lancia, Opel, RAM, Vauxhall, and Peugeot.

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