Samsung holds hands with Stellantis to make batteries for electric vehicles

Samsung SDI, a Samsung Group firm, is among the greatest battery creators on the planet. It supplies batteries for electric vehicles from organizations like Hyundai and Rivian. It has now marked a joint endeavor with worldwide carmaker Stellantis to make batteries for its electric vehicles across different brands.

No subtleties have been uncovered with respect to the size of the arrangement, however specialists guarantee that it very well may be valued at a couple billion dollars. It was as of late detailed that Samsung SDI and Stellantis had marked a MoU (Memorandum of Understanding) to assemble a battery creation plant in the US. Stellantis is the consequence of a consolidation of two major auto brands: Fiat Chrysler Automobiles NV and PSA Groupe.

Stellantis is being viewed as a solid accomplice in the EV space since it possesses different vehicle brands, including Citroen, Dodge, Chrysler, Fiat, Jeep, and Maserati. The organization has reported that it will contribute around $34.9 billion by 2025 for the charge of its vehicles and programming advancement.

Samsung SDI right now has three battery plants, one each in China, Hungary, and South Korea. It rivals any semblance of LG Energy, SK On, Panasonic, CATL, and BYD.