Stellantis and Samsung SDI signed a memorandum of understanding on October 22nd to form a joint venture to produce batteries and modules for North America. The battery plant is scheduled to start production in 2025 with an initial annual capacity of 23GWhh and may be increased to 40GWh in the future. The battery plant will supply Stellantis's automotive assembly plants in the United States, Canada and Mexico.

It is worth noting that on Monday,), Stellantis also announced that it would build a battery factory in a joint venture with LG, with an annual production capacity of 40GWh. The new battery plant is expected to break ground in the second quarter of 2022 and is expected to start production in the first quarter of 2024.

According to the data, Stellantis is the fourth largest automaker in the world jointly established by PSA Group and Fiat Chrysler Group (FCA) in January 2021, with 15 car brands, including Chrysler, Peugeot, Citroen, DS, Dodge, Opel, Jeep, RAM and Abbas, Maserati and other well-known brands.

In July this year, Stellantis officially released the latest electrification strategy, which attracted strong attention from the global automotive industry. According to the strategy, Stellantis plans to invest more than 30 billion euros in the electric vehicle product line by 2025, continuing to be 30 per cent higher than the industry in terms of total capital expenditure and R & D expenditure compared with income. Stellantis also plans to achieve a total battery capacity of at least 260GWh by 2030.

Battery Network noted that in addition to Samsung SDI and LG,Stellantis, it has also carried out business cooperation with Honeycomb Energy, a new force of power batteries in China.

It is reported that Honeycomb Energy and Stellantis began to contact in early 2018, and since then the two teams have conducted continuous, repeated and in-depth exchanges on global procurement, technology, commerce and other issues. Honeycomb Energy Changzhou Factory successfully passed the strict factory review standard of Stellantis NSA on April 23, 2020. Since then, the cooperation between the two sides began to accelerate, and so far Honeycomb Energy has reached a global cooperation project with a total value of 16 billion yuan with Stellantis.

Honeycomb Energy has just finished its B-round financing of 10 billion yuan this year, and capacity expansion is also accelerating.

On October 9, Honeycomb Energy signed a cooperation agreement with the people's Government of Jintan District, Changzhou City, with an additional investment of 15 billion yuan, mainly to build a new energy battery project with an annual output of about 40GWh. The planned land of the project is about 1100 mu, which is divided into two phases of construction. Up to now, the total capacity planning of honeycomb energy has exceeded 200GWh.