Samsung SDI to Invest $2 Billion in Second Stellantis Battery JV Plant
By Kwanwoo Jun
South Korean battery maker Samsung SDI plans to invest almost $2 billion in a second U.S.-based plant for the joint venture with carmaker Stellantis.
Samsung SDI said Wednesday that it will invest 2.656 trillion won ($1.98 billion) to secure a 51% stake in the new plant for StarPlus Energy, a JV with Stellantis.
The planned investment will be made over three years from April 2024 through November 2027, the South Korean company said in a regulatory filing.
The plant aims to start mass production in 2027, with an annual production capacity of 34 gigawatt hours, it added.
Samsung SDI and Stellantis, which run the StarPlus Energy JV in Indiana, are currently building the first plant, with production expected to start in early 2025.
Write to Kwanwoo Jun at kwanwoo.jun@wsj.com
(END) Dow Jones Newswires
September 26, 2023 23:52 ET (03:52 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
Six Sports Betting and iGaming Stocks Trading at a Discount
-
4 Predictions for Stocks and the Economy for the Second Half of 2024
-
What Broadening Rally? AI Stocks Dominate Again In Q2
-
After Earnings, Is Nike Stock a Buy, a Sell, or Fairly Valued?
-
Worst-Performing Stock ETFs of the Quarter
-
Top-Performing Stock ETFs of the Quarter
-
Q2 In Review and Q3 2024 Market Outlook
-
5 Stocks to Buy for 3Q 2024
-
Industrials: Sector Offers Investment Opportunities as Performance Lags Broader Market
-
Consumer Defensives: Even Amid Macro Pressures, Deals Permeate the Landscape
-
33 Undervalued Stocks
-
Utilities: Can the Stocks Keep the Rally Going?
-
Basic Materials: Following Index Decline, We See Many Long-Term Opportunities
-
Healthcare: Valuations Look Attractive In Most Industries
-
Financial Services: Amid Uncertainties, We See the Most Value In Banks and Credit Services
-
Consumer Cyclicals: Even With Anxiety Over Spending, We See Attractive Valuations