LG Energy Solution and Samsung SDI have started placing orders for equipment for their North American electric car battery cell plants being jointly built with Stellantis, a global automaker.
The whole agenda is set for the value of 2.7 trillion won. The budget is set for two companies. A joint plant between Samsung SDI and Stellantis in Kokomo, Indiana of the United States is also undergoing foundation work.
The production scale of the battery factory in Windsor is 45 gigawatt hours (GWh), and the investment amount is about 4.8 trillion won. Among the joint ventures planned by LG Energy Solution in North America, the Windsor factory is the second largest in terms of production capacity after a plant in Lansing, Michigan.
The equipment orders are expected to go to existing Korean partners that have collaborated with LG Energy Solution. The plant plans to start mass production in the first half of 2024.
It plans to load this plant with equipment worth a total of 900 billion won. The plant will be built on a scale of 23GWh and will cost 3.3 trillion won. It is scheduled to go into operation in the first quarter of 2025.
“I understand that LG Energy Solution and Samsung SDI are also considering entering North America together with key Korean partners in order to respond to the U.S. Inflation Reduction Act (IRA),” said an industry insider. “Local authorities and investors also have high expectations for the Korean battery giants’ joint advancement.”
