Gulf Shipping Traffic Steady as U.S.-Iran Talks Remain Uncertain 
SK Hynix Bonus Dispute Deepens as Union Rejects Stock-Based Payout Proposal 
Iran Warns of Retaliation as Trump Threatens New Strikes, Oil Risks Intensify 
Japan Confirms Coordinated Yen Intervention With U.S., Signals More Action if Needed 
Warner Bros. Discovery Shares Rise as Newsom Pushes Settlement in $110 Billion Merger Fight 
South Korea Exports Surge 62.8% in July on AI Chip Demand 
China Defends Industrial Policy Ahead of Key U.S. and EU Trade Talks 
Colgate-Palmolive Reaffirms 2026 Sales Outlook Despite Weak North America Demand 
Trump Says Iran Talks to Begin as Strait of Hormuz Deal Nears, Oil Prices Fall 
Japanese Yen Rallies as Intervention Hopes and BOJ Outlook Weigh on USD/JPY 
Trump Urges Exxon, Chevron to Cut Gas Prices After Record Oil Profits 
Nike China Strategy to Lift Margins Despite $1 Billion Sales Hit, Bernstein Says 
Asian Stocks Rise as AI Optimism Returns, Australia Hits Record High Ahead of RBI Decision 
Capital One Says AML Review Led to Closure of Trump Organization Accounts 
Gold Price Holds Above $4,050 as Fed Rate Outlook, Middle East Tensions Keep Markets on Edge 
BHP Port Hedland Strike Set to Proceed as Wage Talks Continue 
Samsung SDI Co. Ltd. and Stellantis N.V. have recently signed a deal to build a battery plant and produce batteries for electric vehicles. The facility is set to be built in the United States.
The South Korean battery maker and the Amsterdam, Netherlands headquartered automotive manufacturing corporation will jointly produce EV batteries that will be delivered to the North American market as per an insider who is familiar with the matter.
Samsung SDI Co. and Stellantis N.V. reportedly signed a preliminary agreement for the JV where they will be manufacturing lithium-ion batteries for EVs. The Korean company said that along with Stellantis, they are set to hold more meetings to discuss the other details of the deal, including the exact location where the battery facility will be built and when the construction will begin.
Reuters mentioned that Samsung SDI, which is an affiliate of Samsung Electronics, already has battery plants in its home ground, Hungary and China. The EV batteries being made in these locations are supplied to major carmakers, including Ford Motor and BMW, so the additional battery production facility that it will build and operate with Stellantis will further give the company an edge to be one of the world’s largest battery suppliers.
"The two companies, Samsung SDI and Stellantis have struck a MOU (memorandum of understanding) to produce EV batteries for North America," the insider told the publication. The source could not be named due to the sensitivity of the matter.
Yonhap News Agency noted that Samsung SDI and Stellantis’ deal came just a day after the automaker also announced its partnership with another Korean EV battery maker, LG Energy Solution. The contracts of Stellantis between the rival battery makers are similar which means Stellantis’ contract with LGES is also for battery production that will be delivered to the North American market.
At any rate, the amount of Samsung SDI and Stellantis’ deal were not disclosed at this time. The size of the plant that they will build is not known as well. As for the latter’s deal with LGES, analysts suggest the investment could be worth around ₩4 trillion or $3.4 billion.
