Netherlands-based automaker Stellantis NV and Samsung SDI have entered into a memorandum of understanding to form a joint venture that will produce battery cells and modules for the North American electric vehicle (EV) market.
The plant is expected to start production in 2025 and have an initial annual production capacity of 23 gigawatts (GWh), with a potential to increase to 40 GWh, according to a joint press release.The location of the plant has not yet been determined.The joint venture will "fulfill the needs of Stellantis assembly...