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Samsung SDI, Stellantis Collaborate Over EV Battery Production

Author: Anusuya Lahiri | October 19, 2021 08:44am

South Korean battery maker Samsung SDI Co Ltd (OTC:SSDIY) and automaker Stellantis NV (NYSE:STLA) collaborated to produce electric vehicle batteries for the North American market, Reuters reports.
The Samsung Electronics Co Ltd (OTC:SSNLF) affiliate already has EV battery plants in South Korea, China, and Hungary, supplying to customers like Bayerische Motoren Werke AG (OTC:BMWYY) and Ford Motor Co (NYSE:F). The companies are reviewing the plant location.
Recently, Stellantis collaborated with LG Chem Ltd (OTC:LGCLF) owned battery maker LG Energy Solution to produce battery cells and modules for North America.
Related Content: Samsung Targets Tesla, Nio With Lithium-ion Phosphate Battery Development: Korea Herald
Price Action: STLA shares traded higher by 0.05% at $19.59 premarket on the last check Tuesday.

Posted In: BMWYY F LGCLF SSDIY SSNLF STLA