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Heekyong Yang - 3 Marton Monus - 1 hyang Choi - 1 Diane Craft - 1 Jacqueline Wong - 1 Shawn Fain - 1 Fain - 1 Stellantis - 1
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Search resuls for: "Korea's Samsung SDI"


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☆ Samsung SDI to supply EV batteries to Hyundai Motor starting 2026
  + stars: | 2023-10-22 | by ( Heekyong Yang Soo-Hyang Choi | Heekyong Yang | Soo-Hyang Choi | ) www.reuters.com   time to read: +1 min
A general view of the Samsung SDI battery factory in God, Hungary, December 12, 2022. REUTERS/Marton Monus Acquire Licensing RightsSEOUL, Oct 23 (Reuters) - South Korea's Samsung SDI (006400.KS) said on Monday it will supply Hyundai Motor (005380.KS) with electric vehicle (EV) batteries for seven years starting 2026, marking the first battery supply deal between the two companies. "The latest supply deal marks the first ever partnership between Samsung and Hyundai Motor Group in the field of electric vehicle batteries," Samsung SDI said in a statement. The battery maker, which supplies to General Motors Co (GM.N), Stellantis (STLAM.MI), BMW (BMWG.DE) among others, added that it will supply prismatic batteries manufactured at its factory in Hungary for Hyundai Motor's EVs targeting the European market from 2026 through 2032. Samsung SDI did not disclose the size of the deal.
Persons: Marton Monus, Heekyong Yang, hyang Choi, Diane Craft, Jacqueline Wong Organizations: Samsung SDI, REUTERS, Rights, Korea's Samsung SDI, Hyundai, Samsung, Hyundai Motor Group, General Motors Co, BMW, Hyundai Motor's, Thomson Locations: God, Hungary, Rights SEOUL, KS
☆ Samsung SDI, Stellantis choose Indiana for second joint EV battery plant
  + stars: | 2023-10-11 | by ( Heekyong Yang Joseph White | Heekyong Yang | Joseph White | ) www.reuters.com   time to read: +2 min
Stellantis and SDI said their second joint battery factory in Indiana is scheduled to open in 2027, and could employ 1,400 workers. The two companies would have a combined annual production capacity of 67 gigawatt hours (GWh) at the Indiana production site, Samsung SDI said in a statement. The first joint plant is set to start production in the first quarter of 2025. For Stellantis, a second U.S. battery plant would help the company comply with U.S. Inflation Reduction Act domestic content rules that govern federal EV subsidies. Last month, Samsung SDI said it plans to invest 2.7 trillion won ($2.01 billion) to build its second joint battery plant with Stellantis.
Persons: Shawn Fain, Fain, Stellantis, Ram, Alfa Romeo, 1,340.6500, Heekyong Yang, Sharon Singleton Organizations: South Korea's Samsung SDI Co, United Auto Workers, Detroit Three, SDI, Samsung SDI, Chrysler, Jeep, UAW, General Motors, Ford, EV, GM, U.S, Peugeot, Citroen, Opel, Thomson Locations: SEOUL, South, KS, Kokomo , IN, Indiana, Toledo , Ohio, United States, Kokomo, Lordstown , Ohio, U.S, Europe
☆ Samsung SDI to invest $2 bln to build second joint battery plant in US with Stellantis
  + stars: | 2023-09-27 | by ( ) www.reuters.com   time to read: 1 min
SEOUL, Sept 27 (Reuters) - South Korea's Samsung SDI Co Ltd (006400.KS) said on Wednesday it plans to invest 2.7 trillion won ($2.00 billion) to build a second joint electric vehicle (EV) battery plant with Stellantis NV (STLAM.MI) in the United States. The South Korean battery maker said in a regulatory filing that it plans to execute the investment starting next April to November 2027. In July, the two companies said their joint-venture plant in the United States will have an annual production capacity of 34 gigawatt hours (GWh), with a target to start production in 2027. ($1 = 1,351.3700 won)Reporting by Heekyong Yang; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.
Persons: 1,351.3700, Heekyong Yang, Kim Coghill Organizations: Korea's Samsung SDI Co, Stellantis NV, South Korean, Thomson Locations: SEOUL, KS, United States
☆ 7 up-and-coming battery makers vying for the $370 billion electric commercial vehicle business
  + stars: | 2022-12-22 | by ( Andrew Moseman | ) www.businessinsider.com   time to read: +6 min
The global electric commercial vehicle market is expected to top $370 billion in annual revenue by 2030. With a flood of new battery-powered autos set to transform the business of building passenger vehicles, it was natural that commercial vehicles would be next. The global electric commercial vehicles market is expected to surpass $370 billion in annual revenue by 2030, according to Guidehouse Insights. It also has its toes deep into electric mobility, building batteries not only for EVs but also electric buses, boats, and trucks. Now, through internal changes and acquisitions, BorgWarner is positioning itself for the electrified future, especially as that future comes to commercial vehicles.
☆ REUTERS EVENTS-Stellantis eyeing two more N. American battery plants by 2030
  + stars: | 2022-10-18 | by ( ) www.reuters.com   time to read: +2 min
DETROIT, Oct 18 (Reuters) - Stellantis (STLA.MI) will need four electric-vehicle battery plants in North America by 2030, the company's North American chief operating officer said on Tuesday. The automaker has already announced two joint-venture battery plants - one in Indiana and the other in Canada - and will need two more plants in the United States, Canada or Mexico, Mark Stewart said at a Reuters Events auto conference in Detroit. We will need four plants by 2030." Register now for FREE unlimited access to Reuters.com RegisterThe Indiana plant is a joint venture with South Korea's Samsung SDI (006400.KS), while the Canada plant will be built with South Korea's LG Energy Solution (373220.KS). Asked whether Stellantis was open to the workers at the joint-venture battery plants being represented by the United Auto workers union, Stewart said it was up to the workers but the company was open to the idea.
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