Trending: Samsung SDI and Stellantis Plan Second Battery Plant in U.S.
24 July 2023 - 5:25PM
Dow Jones News
0655 GMT - Samsung SDI is one of the most mentioned companies in
the news over the past four hours, according to Factiva data, after
the South Korean battery manufacturer said it will build a second
"gigafactory" with Netherlands-based car-maker partner Stellantis
in the U.S. The two companies said Monday that the new facility
will be built with annual production capacity of 34 gigawatt hours,
with production expected to start in 2027. The planned facility
would add to planned output of 33 gigawatt hours at the joint
venture's first battery plant, in Kokomo, Indiana, which is slated
to start production in 2025. The location of the second plant is
under review, they said. Samsung SDI shares were recently 3.6%
higher after rising by as much as 4.5% after the announcement. Dow
Jones & Co. owns Factiva. (jacques.vanwersch@dowjones.com)
(END) Dow Jones Newswires
July 24, 2023 03:10 ET (07:10 GMT)
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