Samsung SDI Discusses Battery Business Collaboration with Governor of Indiana, USA

Eric Holcomb, Governor of Indiana, Visits Cheonan Plant

Choi Yoon-ho, CEO of Samsung SDI (second from the left), is taking a commemorative photo with the delegation of the Governor of Indiana at the Cheonan plant on the 25th. From the left, Bradley Chambers, Indiana Secretary of Commerce, CEO Choi, Eric Holcomb, Governor of Indiana, and Park Jin, Head of Samsung SDI's Medium and Large Battery Division.

[Asia Economy Reporter Oh Hyung-gil] Choi Yoon-ho, CEO of Samsung SDI, discussed business cooperation plans for the joint venture with the Governor of Indiana, USA, and Stellantis during their visit to Korea.

On the 25th, Samsung SDI announced that CEO Choi met with Indiana Governor Eric Holcomb and Indiana Secretary of Commerce Bradley Chambers at the Cheonan plant, introducing the battery production line and exchanging opinions on the progress of the joint venture and cooperation plans with the state of Indiana.

In May, Samsung SDI announced plans to establish a joint venture with the global automaker Stellantis in Kokomo, Indiana, for electric vehicle battery production.

The joint venture is scheduled to begin construction by the end of the year and will start full-scale operations from the first quarter of 2025. Initially, it will produce electric vehicle battery cells and modules with an annual capacity of 23GWh, expected to expand to 33GWh.

The investment scale is $2.5 billion, approximately 3.3 trillion KRW, and is expected to increase to $3.1 billion (4.15 trillion KRW) in the future.

Kokomo, selected as the site for the joint venture, currently operates a Stellantis parts manufacturing plant. With the addition of the battery production plant, Indiana is expected to become the forward base for Stellantis' electric vehicle production in North America.

Choi Yoon-ho (third from the left), CEO of Samsung SDI, and Eric Holcomb, Governor of Indiana, along with his delegation, are inspecting battery products at the Cheonan plant on the 25th.

This content was produced with the assistance of AI translation services.