Stellantis N.V. and South Korean battery maker Samsung SDI said on Monday they plan to build a second electric vehicle battery plant in the United States.
The companies said the location of the new plant is under review. Both companies signed a memorandum of understanding under its existing joint venture called StarPlus Energy, according to a news release.
The new facility is expected to open in 2027 with an initial annual production capacity of 34-gigawatt hours (GWh). No financial details of the new venture were released.
Stellantis CEO Carlos Tavares said in a statement that the second plant will contribute to offering at least 25 new battery electric vehicles (EVs) in North America by the decade’s end….