Stellantis to partner with Samsung for second EV battery factory in U.S.

July 24 (UPI) -- Stellantis, the parent company of Chrysler and Jeep, said on Monday it was partnering with Samsung to build a second electric vehicle battery manufacturing plant in the United States.

The company said the site for the second plant was "currently under review" but anticipated it would be online in 2027.

"This new facility will contribute to reaching our aggressive target to offer at least 25 new battery electric vehicles for the North American market by the end of the decade," Stellantis CEO Carlos Tavares said in a statement.

"We are continuing to add more capacity in the United States together with our great partner Samsung SDI and laying the next steps to reaching our carbon neutrality commitment by 2038."

Stellantis is the world's fourth-largest automaker, comprised of the merger of Fiat Chrysler and French PSA Group. Stellantis also builds Alfa Romeo, Citroen, Fiat, Peugeot and Maserati.

"By establishing the joint venture with Stellantis last year, we laid a solid groundwork for marking our presence in North America," Samsung SDI President and CEO Yoon-ho Choi said in a statement.

"The second plant will accelerate our market penetration into the U.S. and help Stellantis push forward the U.S. transition to an era of electric vehicles by supplying products featuring the highest levels of safety and quality."

Stellantis in May announced plans to build its first battery plant in Kokomo, Ind., north of Indianapolis, which is scheduled to open in 2025.

The Kokomo plant will have an annual production of 33 gigawatts per hour, or GWh, an increase from the target of 23 GWh.

Stellantis said the Kokomo plant would create 1,400 new jobs in north central Indiana.

Stellantis is targeting battery-electric vehicle sales of five million a year worldwide by 2030 and has announced plans for five battery plants in Europe and North America, including a $4.1 billion joint venture with LG Energy Solutions for a plant in Canada.