Trending: Samsung SDI and Stellantis Plan Second Battery Plant in U.S.
0655 GMT - Samsung SDI is one of the most mentioned companies in the news over the past four hours, according to Factiva data, after the South Korean battery manufacturer said it will build a second "gigafactory" with Netherlands-based car-maker partner Stellantis in the U.S. The two companies said Monday that the new facility will be built with annual production capacity of 34 gigawatt hours, with production expected to start in 2027. The planned facility would add to planned output of 33 gigawatt hours at the joint venture's first battery plant, in Kokomo, Indiana, which is slated to start production in 2025. The location of the second plant is under review, they said. Samsung SDI shares were recently 3.6% higher after rising by as much as 4.5% after the announcement. Dow Jones & Co. owns Factiva. (jacques.vanwersch@dowjones.com)
(END) Dow Jones Newswires
July 24, 2023 03:10 ET (07:10 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
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