Stellantis and Samsung have signed a new deal for the electric car. Two giant companies will build a battery plant for the EV in the US.
Stellantis, the umbrella company of brands such as Citroën, Fiat and Jeep, has signed with Samsung for the electric car. A new agreement has been signed to produce electric car batteries. The battery plant to be built in the US is the result of a $ 2.5 billion cooperation.
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$2.5 billion EV battery plant from Stellantis and Samsung
According to CNBC, Europe-based Stellantis has accelerated its work to produce the first battery plant in the United States. The automotive giant, which has signed an agreement with Samsung’s subsidiary Samsung SDI, will start the construction of its $ 2.5 billion electric car battery center this year. The projected launch date is set for the first quarter of 2025.
Netherlands-based Stellantis; Jeep is growing the electric car investments of 16 major car brands, including Maserati, Dodge, Fiat and Chrysler. Stellantis said the new facility will provide lithium-ion battery modules for plug-in hybrid and fully electric vehicles. The plant, which will start production in the first quarter of 2025, will employ about 1,400 people.
Stellantis, which includes 16 brands, actually switched to electrification quite late. The company currently has only three plug-in hybrid models (Chrysler Pacifica Hybrid Minivan, Jeep Wrangler 4xe and Jeep Grand Cherokee 4xe).
With the new facility, Stellantis wants to sell 5 million electric cars annually by 2030. This roadmap is supported by a $35 billion investment plan in electrification and other technologies by 2025. The company also plans to offer more than 75 electric car models by 2030.
Models that will be electrified in the next 10 years include Dodge Muscle, Dodge Ram, Jeep 4xe and Chrysler Airflow.
Stellantis has also previously partnered with another Korean tech giant. The automotive giant has worked with LG for the new factory in Canada, which is scheduled to open in 2024, and has invested $ 4.1 billion.
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