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Samsung SDI to Invest $1.97 Billion in Second U.S. Battery Plant

South Korea
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Samsung SDI has revealed plans to invest $1.97 billion in its second battery manufacturing facility in the United States, in collaboration with Stellantis N.V. This follows the recent announcement by their U.S. venture, StarPlus Energy, to construct a second battery plant in Indiana, in addition to their first facility in the same state. The investment aligns with Samsung SDI’s 51 percent stake in the project and will be implemented between April 2024 and November 2027. The second plant is projected to commence operations in 2027, with an initial production capacity of 34 gigawatt hours per year. The specific location for the new facility is yet to be determined.

The joint battery venture between the two companies was established in October 2021. In May 2022, they unveiled plans for their first battery manufacturing plant in Kokomo, Indiana, with an increased target production of 33 GWh annually, up from the initial goal of 23 GWh. Operations are slated to commence in the first quarter of 2025.

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