Samsung SDI could be set to increase its investment into the US’ battery manufacturing industry— including building its own factory in the country.
The company’s president Choi Yoon-ho has said he will consider making additional investment in the US, according to the Korean newspaper Business Korea.
The newspaper quotes Yoon-Ho as saying during the latest shareholders’ meeting in Seoul that he thinks Samsung needs its own factory in the US.
In October, Netherland’s-based vehicle OEM Stellantis and Samsung SDI entered into a memorandum of understanding to form a joint venture to produce battery cells and modules for North America.
Targeted to start in 2025, the plant aims to have an initial annual production capacity of 23GWh, with the ability to increase up to 40GWh in the future.
The site of the joint venture plant with Stellantis is under discussion but is scheduled to be announced soon.
Samsung SDI has production bases in Korea, China, and Hungary.