Samsung SDI Co., South Korea's third-largest producer of electric car batteries, announced a $1.98 billion investment in a second battery plant in the United States in collaboration with Stellantis N.V. of the Netherlands.According to a regulatory filing in Seoul by the Korean partner, the investment will give Samsung SDI a 51% stake in the new facility.  
 
In July, Samsung SDI and Stellantis announced their intention to build a battery factory in the United States with an annual production capacity of 34 gigatonnes (GWh), where they had already begun construction after establishing the US joint venture StarPlus Energy in October 2021. The location of the second battery factory has not been determined, but it is thought to be close to their current plant in Kokomo, Indiana.
 
They intend to break ground on the second US factory in April 2024, with mass production beginning in November 2027. According to kedglobal, once the second battery plant is operational, the JV's total annual battery production capacity in the US will reach 67 GWh, enough to power more than 1 million electric vehicles.
 
The two companies have agreed to increase the first battery manufacturing plant's overall capacity from 23 to 33 GWh. The first plant, which began construction last year, is set to open for business in the first quarter of 2025.