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<blockquote data-quote="Weather Man" data-source="post: 16777116" data-attributes="member: 137766"><p><h3><a href="https://seekingalpha.com/news/3842030-stellantis-samsung-sdi-to-build-jv-battery-plant-in-indiana-reuters?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain" target="_blank">Stellantis, Samsung SDI to build JV battery plant in Indiana - Reuters</a></h3><p><a href="https://seekingalpha.com/symbol/STLA?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain" target="_blank">STLA +0.35%</a>May 23, 2022 7:21 PM ET</p><p>Stellantis (NYSE:<a href="https://seekingalpha.com/symbol/STLA" target="_blank">STLA</a>) and Samsung SDI (<a href="https://seekingalpha.com/symbol/SSDIY" target="_blank">OTCPK:SSDIY</a>) will announce tomorrow that they will <a href="https://www.nasdaq.com/articles/stellantis-samsung-sdi-to-build-new-jv-battery-plant-in-indiana-sources-0" target="_blank">build a new battery plant in Indiana</a>, Reuters reported Monday, as the Chrysler parent ramps up electric vehicle production plans.</p><p>The joint venture plant is expected to be built near Stellantis (<a href="https://seekingalpha.com/symbol/STLA" target="_blank">STLA</a>) engine, casting and transmission plants in Kokomo, according to the report.</p><p><a href="https://seekingalpha.com/news/3756477-stellantis-to-form-jv-with-samsung-sdi-for-lithium-ion-battery-production-in-north-america" target="_blank">Last October</a>, the companies said they were forming a JV for lithium ion battery production in North America with an initial annual production capacity of 23 GWh with the ability to increase to up to 40 GWh in the future, with a targeted 2025 start-up date.</p><p>During a visit last week to a Samsung Electronics campus in South Korea, President Biden tipped off a planned investment, saying "Samsung will also be working with Stellantis on a joint venture to build a new facility in the United States that will manufacture batteries for electric vehicles."</p><p>In another recent acceleration of its electrification strategy, Stellantis (<a href="https://seekingalpha.com/symbol/STLA" target="_blank">STLA</a>) said earlier this month it would <a href="https://seekingalpha.com/news/3830423-stellantis-adds-to-huge-electrification-investment-in-canada" target="_blank">spend $2.8B to upgrade two Canadian assembly plants and expand a research center</a>.</p></blockquote><p></p>
[QUOTE="Weather Man, post: 16777116, member: 137766"] [HEADING=2][URL='https://seekingalpha.com/news/3842030-stellantis-samsung-sdi-to-build-jv-battery-plant-in-indiana-reuters?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain']Stellantis, Samsung SDI to build JV battery plant in Indiana - Reuters[/URL][/HEADING] [URL='https://seekingalpha.com/symbol/STLA?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain']STLA +0.35%[/URL]May 23, 2022 7:21 PM ET Stellantis (NYSE:[URL='https://seekingalpha.com/symbol/STLA']STLA[/URL]) and Samsung SDI ([URL='https://seekingalpha.com/symbol/SSDIY']OTCPK:SSDIY[/URL]) will announce tomorrow that they will [URL='https://www.nasdaq.com/articles/stellantis-samsung-sdi-to-build-new-jv-battery-plant-in-indiana-sources-0']build a new battery plant in Indiana[/URL], Reuters reported Monday, as the Chrysler parent ramps up electric vehicle production plans. The joint venture plant is expected to be built near Stellantis ([URL='https://seekingalpha.com/symbol/STLA']STLA[/URL]) engine, casting and transmission plants in Kokomo, according to the report. [URL='https://seekingalpha.com/news/3756477-stellantis-to-form-jv-with-samsung-sdi-for-lithium-ion-battery-production-in-north-america']Last October[/URL], the companies said they were forming a JV for lithium ion battery production in North America with an initial annual production capacity of 23 GWh with the ability to increase to up to 40 GWh in the future, with a targeted 2025 start-up date. During a visit last week to a Samsung Electronics campus in South Korea, President Biden tipped off a planned investment, saying "Samsung will also be working with Stellantis on a joint venture to build a new facility in the United States that will manufacture batteries for electric vehicles." In another recent acceleration of its electrification strategy, Stellantis ([URL='https://seekingalpha.com/symbol/STLA']STLA[/URL]) said earlier this month it would [URL='https://seekingalpha.com/news/3830423-stellantis-adds-to-huge-electrification-investment-in-canada']spend $2.8B to upgrade two Canadian assembly plants and expand a research center[/URL]. [/QUOTE]
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