Stellantis and Samsung announced they are seeking to build

 

Stellantis and Samsung announced they are seeking to build a second battery manufacturing plant in the U.S., with an initial capacity of 34 GWh.  The automaker calculates it would need 400 GWh in annual output capacity to meet its EV goals.  The companies did not disclose the location of the second planned facility; however, reports have speculated it would be built in Ontario or the U.S. Midwest. The automaker is seeking to reach carbon neutrality by 2038. Stellantis' target involves selling exclusively BEVs in Europe and a 50% mix in the U.S. by 2030. Samsung is also planning a 30 GWh factory in collaboration with General Motors, with a production start aimed at 2026. $STLA closed up 0.98% for the day, and 11.51% MoM, on Monday.