Samsung to build its first EV battery plant in US
Samsung has announced that it will build its first electric vehicle battery plant in the US. It will enter into the North American EV battery space by building its first battery plant. The company has signed a joint venture with carmaker Stellantis for its upcoming battery plant. Read further to know more about Samsung first EV battery plant in the US.
Both the companies in a partnership will commence the production of the battery cells and modules for electric vehicles in the first half of 2025. The company in its press release said that its annual production capacity would be around 23GWh, and in the future, that will increase to 40GWh.
These batteries will be used in Stellantis’ plug-in hybrid and pure EV cars sold in Canada, Mexico, and the US. Samsung SDI will finally be able to better compete with its local rivals LG Energy and SK On in the US.
The company did not reveal the details of the investment amount for the battery plant for electric vehicles in the US. But the experts hint that they have spent billions of dollars. The name and the exact location of the venture will be announced later on.
Jeon Young-hyun, president of Samsung SDI said, “I am delighted to announce a joint venture with Stellantis, which is accelerating its electrification strategy in line with the eco-friendly era. We will do our best to provide the highest level of satisfaction to our customers in the electric vehicle market.”
Samsung solid-state battery technology
Last year, Samsung had announced that it has developed a solid-state battery technology that provides a range of electric vehicles of 500 miles (800 km) on a single charge. The battery which is developed for electric vehicles has a life cycle of over 1,000 charges. The company noticed that the technology is half the size of a conventional lithium-ion battery which is achieved by decreasing the anode thickness.
The company said in a statement “The prototype pouch cell that the team developed would enable an EV to travel up to 800 kilometres on a single charge and features a cycle life of over 1,000 charges.”
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