Samsung SDI to invest $2 billion to build second joint battery plant in US with Stellantis

FILE PHOTO: A general view of the Samsung SDI battery factory in God, Hungary, December 12, 2022. REUTERS/Marton Monus/file photo

SEOUL (Reuters) - South Korea's Samsung SDI Co Ltd said on Wednesday it plans to invest 2.7 trillion won ($2.00 billion) to build a second joint electric vehicle (EV) battery plant with Stellantis NV in the United States.

The South Korean battery maker said in a regulatory filing that it plans to execute the investment starting next April to November 2027.

In July, the two companies said their joint-venture plant in the United States will have an annual production capacity of 34 gigawatt hours (GWh), with a target to start production in 2027.

($1 = 1,351.3700 won)

(Reporting by Heekyong Yang; Editing by Kim Coghill)