IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
Wikipedia Pushes for AI Licensing Deals as Jimmy Wales Calls for Fair Compensation 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
European Oil & Gas Stocks Face 2026 With Cautious Outlook Amid Valuation Pressure 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
Nexperia Urges China Division to Resume Chip Production as Supply Risks Mount 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
Amazon Italy Pays €180M in Compensation as Delivery Staff Probe Ends 
YouTube Agrees to Follow Australia’s New Under-16 Social Media Ban 
Sam Altman Reportedly Explored Funding for Rocket Venture in Potential Challenge to SpaceX 
Magnum Audit Flags Governance Issues at Ben & Jerry’s Foundation Ahead of Spin-Off 
Tesla Expands Affordable Model 3 Lineup in Europe to Boost EV Demand 
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
Momenta Quietly Moves Toward Hong Kong IPO Amid Rising China-U.S. Tensions 
Banks Consider $38 Billion Funding Boost for Oracle, Vantage, and OpenAI Expansion 
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
