After the joint venture battery factory in Kokomo, Indiana, began construction, Samsung's battery manufacturer Samsung SDI and Strantis announced in July that they would build a second battery factory in the United States. Foreign media reports show that two months after the plan for the second joint venture battery factory was announced, Samsung SDI disclosed in a document on Wednesday local time that they will invest US$1.97 billion in the second joint venture battery factory with Strantis in the United States.
Visit the purchase page:
SAMSUNG-Samsung Flagship Store
Foreign media mentioned in reports that Samsung SDI’s investment amount is equivalent to their 51% stake in the second joint venture factory.
When it announced in July that it would build a second joint venture battery factory with Strantis, Samsung SDI mentioned on its official website that the factory was planned to start production in 2027, with an initial annual production capacity of 34GWh.
Judging from the documents submitted by Samsung SDI on Wednesday, their second joint venture battery factory with Stransti in the United States is expected to start construction next year. The US$1.97 billion investment they disclosed will be carried out from April 2024 to November 2027.
The first joint venture battery factory between Samsung SDI and Stratis in the United States was announced in May 2022. It was built in Kokomo, Indiana. Production is currently scheduled to begin in the first quarter of 2025. The originally planned annual production capacity was 23GWh, which has been increased to 33GWh.
After both factories are fully put into operation, the annual production capacity will reach 67GWh. The joint venture party Strantis will also obtain a stable battery supply to provide battery guarantee for their production of electric vehicles.