Samsung JUST SHOCKED The Electric Car Industry With This NEW EV Battery Factory!
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Automakers are spending billions of dollars to relocate battery cell manufacturers to their own countries to fulfill the predicted fast growth in demand for electric vehicles over the next decade. Automakers and tech developers from South Korea and the Netherlands are working to streamline their supply chains in an effort to save costs, simplify procedures, and prevent major disruptions. Since there are so few semiconductor chips available on a global scale, this has brought to light the industry’s reliance on foreign suppliers. Those established in the United States or with significant operations here also aim to please the Biden administration. This administration has called on businesses to bring their supply chains to the United States.
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Thank You For Watching Our Video; Samsung JUST SHOCKED The Electric Car Industry With This NEW EV Battery Factory!
While Tesla is the country’s top-selling electric vehicle manufacturer, other automakers were unwilling to engage in battery cell production until recently. Instead, they’ve turned to third-party manufacturers, many of whom are located in Asia. But now, Samsung and Stellantis are planning a 2.5 billion dollar battery facility in the United States!
The cells in electric vehicles are stored in battery packs with modules. The battery pack is by far the most critical and expensive part of an EV. It is more challenging to move these than smaller things like semiconductor chips because they might weigh hundreds or even thousands of pounds!
A new electric car battery manufacturing facility in Kokomo, Indiana, is set to open in 2025 with an initial annual production capacity of 23-gigawatt hours. It aims to increase that capacity to 33 GWh over the next few years according to binding agreements signed by Stellantis N.V., the company that owns Jeep and Ram, and Samsung SDI.
Stellantis electric vehicles are predicted to increase demand, which would lead to an increase in overall capacity. Stellantis was made when Fiat Chrysler and Peugeot merged in 2021. Former Peugeot CEO Carlos Tavares is in charge of the organization. Mr. Tavares announced last year that the business plans to invest 32 billion euros or $30 billion in electric vehicles by 2025 to catch up to Tesla, the major manufacturer of electric automobiles.
For decades, Chrysler has had a substantial presence in the city of Kokomo, located 60 miles north of Indianapolis and producing engines and transmissions. Kokomo and the surrounding areas will increase by 1,400 new jobs due to the joint venture’s $2.5 billion investment. There is a potential for the investment to rise to $3.1 billion or €2.9 billion.
At Stellantis’ North American assembly factories, the new facility will offer battery modules for a wide variety of cars. Construction of the plant is expected to begin later this year, with production set to commence in the first quarter of 2025 at the earliest possible opportunity.
According to Carlos Tavares, the company has been committed to an aggressive electrification plan based on five gigafactories in Europe and North America for less than a year. They are also pleased to report that our global battery production footprint has been further strengthened by this news, and this shows Stellantis’ commitment to a decarbonized future.”
Indiana’s economic development targets are high. Taking on this big project with Stellantis and Samsung SDI fits right in with their 5E strategy of accelerating the transition to a low-carbon economy. Investing in Indiana’s economy, workforce, and quality of life is paying off, as seen by these and other large-scale projects.
This year’s growth and momentum have been unheard of in the state. Samsung SDI will use its cutting-edge technology PRiMX to produce EV battery cells and modules for the North American market at the Indiana site. Last year, Samsung established its premium battery technology brand PRiMX as an industry first and introduced the brand in January at CES 2022.
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