Stellantis, Samsung to Build 2nd EV Battery Plant in US

Stellantis's Peugeot Inception concept electric vehicle is introduced during a keynote address by Stellantis CEO Carlos Tavaras during CES 2023 at The Venetian Resort Las Vegas in Nevada, on Jan. 5, 2023. Ethan Miller/Getty Images

Stellantis N.V. and South Korean battery maker Samsung SDI said on Monday they plan to build a second electric vehicle battery plant in the United States.

The companies said the location of the new plant is under review. Both companies signed a memorandum of understanding under its existing joint venture called StarPlus Energy, according to a news release.