Battery maker Samsung SDI plans to invest $1.98 billion in its second U.S. joint battery factory with Stellantis, the company announced. The investment is part of Samsung SDI’s push into the U.S. market, as it also expands in Michigan.
The South Korea-based company said in a Sept. 27 regulatory filing that it will fund the project from April to November 2027. The investment will give Samsung SDI a 51% stake in Starplus Energy, its EV battery joint venture with Stellantis.