SpaceX Stock Draws Bullish Wall Street Coverage Ahead of Nasdaq-100 Inclusion 
Dollar Slips After Fed Minutes as Iran Tensions, Inflation Risks Keep Markets Cautious 
Oppenheimer Sees CNH Industrial as Top 2026 Agriculture Stock Pick on Dealer Consolidation Strategy 
Levi Strauss Raises 2026 Outlook After Q2 Earnings Beat, Shares Drop Despite Strong Results 
Oil Prices Slip but Stay on Track for Weekly Gains as U.S.-Iran Conflict Persists 
Japan Producer Inflation Hits 7.1% in June, Fueling BOJ Rate Hike Expectations 
Wolfspeed Sues Navitas Over GaN and SiC Patent Infringement 
SK Hynix’s $28 Billion U.S. Share Sale Draws Massive Demand Amid AI Chip Boom 
Citi Raises TSMC Price Target as AI Chip Demand Strengthens Growth Outlook 
Deutsche Bank Sees Global Capital Shifts Reshaping Long-Term U.S. Dollar Outlook 
Bernstein Raises 2026 Nickel Price Forecast as Indonesia Tightens Supply 
Apple Sues OpenAI, Former Employees Over Alleged Trade Secret Theft 
European Regulators Clash With U.S. Treasury Over Private Credit Transparency 
Zhipu AI Raises HK$31.37 Billion in Discounted Share Sale to Accelerate AI Growth 
Dollar Ends Week Higher as Yen Jumps on Japan Pension Fund Investment Plans 
Asian Stocks Rise as AI Chip Rally Offsets Middle East Tensions 
China 618 Smartphone Sales Drop 13% as Higher Prices Hurt Demand, Huawei Gains Market Share 
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
