Stellantis, the umbrella company of brands such as Citroën, Fiat and Jeep, has agreed with Samsung for the electric car. A new agreement was signed to produce electric car battery. The battery facility to be established in the USA emerged as a result of a $2.5 billion cooperation.
Stellantis and Samsung’s $2.5 billion EV battery facility
According to the news reported by CNBC, Europe-based Stellantis has stepped up its efforts to produce its first battery facility in the USA. The automotive giant, which has made an agreement with Samsung’s subsidiary Samsung SDI, will begin the construction of the 2.5 billion dollar electric car battery center this year. The projected launch date has been determined as the first quarter of 2025.
Netherlands-based Stellantis; 16 major auto brands, including Jeep, Maserati, Dodge, Fiat and Chrysler, are growing their electric car investments. Stellantis stated that the new facility will provide lithium-ion battery modules for plug-in hybrid and all-electric vehicles. The facility, which will start production in the first quarter of 2025, will employ approximately 1,400 people. Stellantis, which includes
16 brands, actually switched to electrification quite late. The company currently only has 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 become electrified in the next 10 years include Dodge Muscle, Dodge Ram, Jeep 4xe and Chrysler Airflow.
Stellantis also previously made battery partnerships with another Korean technology giant. The automotive giant worked with LG for the new factory planned to open in 2024 in Canada and invested $ 4.1 billion.
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