Samsung SDI will establish a joint venture for electric vehicle batteries with Stellantis, the world's fourth-largest automaker.
According to industry sources on October 19, Samsung SDI is reported to have recently signed a business agreement for electric vehicle battery cooperation with US automaker Stellantis.
Samsung SDI has been walking its own route without collaboration with automakers, and this joint venture with Stellantis is expected to accelerate its entry into the US market.
Based on this MOU, the two companies plan to start building an electric vehicle battery production plant in the United States.
Samsung SDI currently operates battery production facilities in three locations: Ulsan, Xi'an, China, and Göd, Hungary, but unlike its competitors such as LG Energy Solution and SK Innovation, there are no battery factories in the US.
The industry predicts that the investment in this MOU will be at least trillions of units. However, the specific investment scale, location, and timing of the plant were not disclosed.
Samsung SDI recently announced that it is considering multiple candidate sites in Illinois, the US.
Previously, Stellantis established a joint venture in the United States with LG Energy Solutions on October 18.
The scale of the joint venture between the two companies is estimated to be about KRW 4 trillion won, and the production capacity of the joint venture is 40 GWh per year, which is a scale that can produce about 600,000 performance electric vehicles.
LG Energy Solution's Stellantis order amount is about KRW 40 trillion won, exceeding the KRW 200 trillion won order balance for the first time among global battery companies.
By adding the first and second factories jointly invested with General Motors (GM), the company will secure a battery production capacity of 150GWh in North America alone by 2025.
The industry expects Samsung SDI to secure the remaining 10GWh per year in addition to the 40GWh electric vehicle battery to be produced by LG Energy Solution.
Meanwhile, Hyundai Motor Group also decided to invest $7.4 billion over five years to produce electric vehicles in the United States.
