Samsung SDI, Stellantis Collaborate Over EV Battery Production

South Korean battery maker Samsung SDI Co Ltd SSDIY and automaker Stellantis NV STLA collaborated to produce electric vehicle batteries for the North American market, Reuters reports.
The Samsung Electronics Co Ltd SSNLF affiliate already has EV battery plants in South Korea, China, and Hungary, supplying to customers like Bayerische Motoren Werke AG BMWYY and Ford Motor Co F. The companies are reviewing the plant location.
Recently, Stellantis collaborated with LG Chem Ltd LGCLF owned battery maker LG Energy Solution to produce battery cells and modules for North America.
Related Content: Samsung Targets Tesla, Nio With Lithium-ion Phosphate Battery Development: Korea Herald
Price Action: STLA shares traded higher by 0.05% at $19.59 premarket on the last check Tuesday.