Oil Prices Tumble as U.S.-Iran Peace Deal Eases Supply Concerns 
Myanmar Economic Outlook Hit by Fuel Price Shock as World Bank Cuts Growth Forecast 
Samsung Gains Interest from BYD, Google, AMD as AI Chip Demand Strains TSMC Capacity 
SpaceX Stock Gets $175 Target as Analysts See Massive Growth Ahead 
Lazard Challenges Centerview for Role in Venezuela’s Massive Debt Restructuring 
Dollar Slips as U.S.-Iran Peace Deal Optimism Boosts Risk Appetite Ahead of Fed Decision 
Asian Currencies Steady as BOJ Raises Rates and Markets Await Fed Decision 
Taiwan Central Bank Likely to Keep Interest Rates Unchanged Through 2027 
Dollar Slips as U.S.-Iran Peace Deal Boosts Risk Appetite and Pressures Safe-Haven Demand 
Sigma Healthcare Shares Jump After Exiting Boots Acquisition Process 
Japan Trade Deficit Narrows as Exports Surge in May 
RBA Expected to Hold Interest Rates at 4.35% as Markets Watch AUD/USD and ASX 200 
Anthropic Restricts Global Access to AI Models After U.S. Security Review 
SoftBank Shares Drop as OpenAI Losses and Rising Costs Spark Investor Concerns 
Australia’s Atlas Arteria Rejects IFM Global’s Increased A$7.4 Billion Takeover Offer 
Astera Labs and Rocket Lab Surge After Nasdaq-100 Inclusion Announcement 
Samsung SDI and Stellantis N.V. have revealed plans for a second U.S. electric vehicle (EV) battery plant following their successful StarPlus Energy joint venture in Indiana. The forthcoming facility, due to begin production in early 2027, will generate 34 GWh annually, bringing the combined capacity to 67 GWh - enough to power more than 1 million EVs.
The new EV battery plant, expected to commence production in early 2027, will have an initial capacity of 34 GWh annually. While the exact investment has not been disclosed, industry officials estimate that around 4 trillion won ($3.1 billion) will be spent on its construction. Once both factories are operational, their combined EV battery output capacity will reach 67 GWh, enough to power over 1 million EVs.
Though the specific location of the new facility is yet to be finalized, industry officials suggest it will likely be near the first battery factory in Indiana to enable efficient coordination between the two plants.
Carlos Tavares, CEO of Stellantis, expressed his enthusiasm for the upcoming facility, highlighting its crucial role in achieving their goal of introducing at least 25 new battery electric vehicle models to the North American market by the end of the decade. He pledged to expand their operations in the United States further while partnering with Samsung SDI as they work towards their carbon neutrality commitment by 2038.
Apart from the Stellantis partnership, Samsung SDI is also collaborating with General Motors (GM) to establish a joint venture for manufacturing nickel-rich prismatic and cylindrical batteries in the U.S. This venture, set to launch mass production in 2026, will see an investment of over $3 billion and an annual production capacity exceeding 30 GWh.
While the location of the first battery facility under this partnership is undisclosed, Samsung SDI's commitment to penetrate the U.S. EV battery market and ensure a stable supply of products remains evident.
Photo: Olena Sergienko/Unsplash
