[ad_1]
LG Energy Solution and Samsung SDI have begun taking orders for equipment for their North American electric vehicle battery plants they are building in partnership with global automaker Stellantis. The equipment to be ordered by the two companies is worth 2.7 trillion won.
LG Energy Solution and Stellantis recently broke ground on a battery plant to be built in Windsor, Ontario, Canada. Groundwork is also underway for a joint venture between Samsung SDI and Stellantis in Kokomo, Indiana, USA.
The battery factory in Windsor has a production capacity of 45 gigawatt hours (GWh) and an investment of about 4.8 trillion won. Among LG Energy Solution’s planned joint ventures in North America, the Windsor plant is the second largest in capacity after the plant in Lansing, Michigan. LG Energy Solution recently started taking orders for production line equipment for this plant. The company plans to order equipment worth a total of 1.8 trillion won.
The order for the equipment is planned to be placed with Korean partners working with LG Energy Solution. The plant plans to start mass production in the first half of 2024.
Samsung SDI, which has been cooperating with Korean companies in various fields, has started ordering production line equipment for the Kokomo factory. The factory is expected to load equipment worth a total of 900 billion won. The plant will have a capacity of 23 GW/h and cost 3.3 trillion won. It is planned to be commissioned in the first quarter of 2025, and the plant is expected to increase its production capacity to 40 GWh in the future.
Korean battery equipment makers are expected to benefit from the orders, as the orders for equipment supplied to the two plants are worth 2.7 trillion won, the largest ever. “I understand that LG Energy Solution and Samsung SDI are considering entering North America with their key Korean partners to respond to the US Inflationary Reduction Act (IRA),” said an industry expert. “Local authorities and investors have high hopes for the collective progress of the Korean battery giants.”
[ad_2]
Source link
