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confirms US battery race entry with $2.5 billion Stellantis joint venture","samsung-confirms-us-battery-race-entry-with-2-5-billion-stellantis-joint-venture","article/samsung-confirms-us-battery-race-entry-with-2-5-billion-stellantis-joint-venture",{"_uid":557,"date":558,"tags":559,"editor":560,"content":570,"excerpt":660,"featured":51,"reporter":661,"_editable":665,"component":666,"seo_title":553,"categories":667,"visibility":674,"author_company":49,"featured_image":675,"seo_description":660,"author_full_name":49,"author_job_title":49,"formattedDate":680,"formattedArticleDate":681},"f7a7e891-66df-45f2-948d-69a796054fa6","2022-05-25 00:00",[],[561],{"slug":562,"name":563,"content":564},"matthew-bird","Matthew Bird",{"job_title":565,"image":566,"bio":568,"linkedin":569},"Senior Editor - Supply Chains & Data Visualisation",{"filename":567},"https://a.storyblok.com/f/287943243085208/512x512/14738033ec/matthew-bird.jpeg","Matthew writes, edits and produces content for Benchmark Intelligence and Benchmark Source across the whole mine to grid supply chain. He also acts as a liaison to the press. He has a PhD in electrochemistry from the University of Nottingham.","https://www.linkedin.com/in/birdmatthew/",{"type":571,"content":572},"doc",[573,580,585,590,595,602,607,622,627,632,637,642,647],{"type":574,"attrs":575,"content":576},"paragraph",{"textAlign":49},[577],{"text":578,"type":579},"Stellantis and Samsung SDI said they would invest $2.5 billion to build a battery factory in the US, marking the first foray into the North American market for the South Korean battery maker. ","text",{"type":574,"attrs":581,"content":582},{"textAlign":49},[583],{"text":584,"type":579},"The joint venture facility will be located in Kokomo, Indiana and will supply Stellantis with the battery cells and modules needed for its North American operations.",{"type":574,"attrs":586,"content":587},{"textAlign":49},[588],{"text":589,"type":579},"The companies said the plant will be operational by 2025 with a production capacity of 23 gigawatt hours. This could grow to 33 GWh by 2028, taking total investment to $3.1 billion, they said.",{"type":574,"attrs":591,"content":592},{"textAlign":49},[593],{"text":594,"type":579},"The joint venture plant will be Samsung’s first battery production facility in North America. Its other facilities are mostly in China and Korea with one facility also in Hungary. The Indiana facility will also be the first that Samsung operates as part of a joint venture with an automaker.",{"type":596,"attrs":597,"content":599},"heading",{"level":598,"textAlign":49},4,[600],{"text":601,"type":579},"Expanding Indiana Base",{"type":574,"attrs":603,"content":604},{"textAlign":49},[605],{"text":606,"type":579},"Construction on the battery plant is due to begin by the end of 2022. It is near to the transmission, engine and casting plants Stellantis already operates in Kokomo. The automaker last year announced investment plans to upgrade its transmission plants to produce electrified transmissions.",{"type":574,"attrs":608,"content":609},{"textAlign":49},[610,612,620],{"text":611,"type":579},"Stellantis has set a target of producing 5 million battery electric vehicles a year by 2030. It is looking to develop 400 GWh of battery capacity in North America and Europe, mostly from five new gigafactories. In March this year, it announced the first of these would be in ",{"text":613,"type":579,"marks":614},"Ontario, Canada as part of a joint venture with LG Energy Solution",[615],{"type":616,"attrs":617},"link",{"href":618,"uuid":49,"anchor":49,"target":49,"linktype":619},"https://source.benchmarkminerals.com/article/lges-expands-north-america-footprint-with-canada-and-arizona-gigafactories","url",{"text":621,"type":579},".",{"type":574,"attrs":623,"content":624},{"textAlign":49},[625],{"text":626,"type":579},"“Just under one year ago, we committed to an aggressive electrification strategy anchored by five gigafactories between Europe and North America,” Carlos Tavares, chief executive of Stellantis, said. “Today’s announcement further solidifies our global battery production footprint.”",{"type":574,"attrs":628,"content":629},{"textAlign":49},[630],{"text":631,"type":579},"Benchmark’s Gigafactory Assessment expects the plant will produce batteries using mid-nickel NCM and NCA cathode chemistries, with a small amount of low-nickel NCM battery production.",{"type":596,"attrs":633,"content":634},{"level":598,"textAlign":49},[635],{"text":636,"type":579},"North American batteries gaining pace",{"type":574,"attrs":638,"content":639},{"textAlign":49},[640],{"text":641,"type":579},"In 2021, Benchmark tracked 38.7 GWh of battery production capacity in North America. In 2022, this is expected to grow to 54.4 GWh as existing facilities ramp up and new ones come online.",{"type":574,"attrs":643,"content":644},{"textAlign":49},[645],{"text":646,"type":579},"The rapid growth of battery and EV production capacity is straining raw material supply. Speaking to the media, according to CNBC, Tavares expects to see raw material shortages in 2027-2028. He said, “The speed at which we are trying to move all together for the right reason, which is fixing the global warming issue, is so high that the supply chain and the production capacities have no time to adjust.”",{"type":574,"attrs":648,"content":649},{"textAlign":49},[650,652,658],{"text":651,"type":579},"North American battery production capacity is growing rapidly, in part due to joint ventures such as that between Stellantis and Samsung. A total of 81% of North America’s gigafactory pipeline is ",{"text":653,"type":579,"marks":654},"connected to an automaker either directly or through a joint venture",[655],{"type":616,"attrs":656},{"href":657,"uuid":49,"anchor":49,"target":49,"linktype":619},"https://source.benchmarkminerals.com/article/global-gigafactory-pipeline-hits-300-china-maintains-lead-but-west-gathers-pace",{"text":659,"type":579},". The region’s battery production capacity is expected to well over double by 2025 to 164 GWh according to Benchmark’s latest lithium ion battery database.","Stellantis and Samsung SDI said they would invest $2.5 billion to build a battery factory in the US, marking the first foray into the North American market for the South Korean battery maker. The joint venture facility will be located in Kokomo, Indiana and will supply Stellantis with the battery cells and modules needed for […]",[662],{"slug":562,"name":563,"content":663},{"job_title":565,"image":664,"bio":568,"linkedin":569},{"filename":567},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"f7a7e891-66df-45f2-948d-69a796054fa6\", \"id\": \"\"}-->","article",[668,671],{"slug":669,"name":670},"batteries","Batteries",{"slug":672,"name":673},"gigafactories","Battery & Gigafactory","private",{"id":49,"alt":676,"name":676,"focus":676,"title":676,"source":676,"filename":677,"copyright":676,"fieldtype":678,"meta_data":679,"is_external_url":51},"","https://a.storyblok.com/f/287943243085208/90b9bc6c0c/bm-01-hp-1-all-new-2022-jeep-grand-cherokee-4xe-plug-in-hybrid.jpg","asset",{"alt":676,"title":676,"source":676,"copyright":676},"May 25, 2022","25th May 2022",[],[],1792773927284]