Samsung SDI and Stellantis in automobile battery deal

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Stellantis has “secured production capacity” to understand its objective to have electrical autos make up 40 p.c of its US gross sales by 2030, Samsung SDI stated.

South Korean battery maker Samsung SDI will collectively produce electrical automobile batteries within the US with world carmaker Stellantis, the South Korean agency stated Friday—its accomplice’s second such deal in per week.

The two corporations will arrange a “joint production body” within the United States to provide “EV battery cells and modules”, Samsung SDI stated, with manufacturing beginning in 2025 and the output provided to Stellantis’s auto factories in Canada, Mexico and the US.

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With the deal, Stellantis has “secured production capacity” to understand its objective to have electrical autos make up 40 p.c of its US gross sales by 2030, in keeping with the Samsung SDI assertion.

Stellantis, which incorporates the US manufacturers Jeep, Chrysler and Ram, additionally owns the European carmakers Peugeot, Citroen, Fiat, Opel and Alfa Romeo, amongst others.

It was fashioned in a merger between France’s Peugeot and the US-Italian firm Fiat Chrysler earlier this yr, and a few 2.2 million Stellantis model automobiles have been bought in North America in 2019.

Samsung SDI already has EV battery vegetation in China, Hungary and South Korea and is a part of the sprawling Samsung group, whose flagship subsidiary Samsung Electronics is without doubt one of the world’s largest chip and smartphone makers.

Like a lot of its friends, Stellantis has set itself targets to shift in the direction of battery-electric vehicles as tightening air pollution rules imply inside combustion engines will have to be phased out.

Earlier this week the US-European automaker stated it will workforce up with one other South Korean firm—LG Energy Solution—to construct lithium-ion automotive batteries in North America.


Stellantis posts strong inaugural earnings, steps up electric drive


© 2021 AFP

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Samsung SDI and Stellantis in automobile battery deal (2021, October 22)
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