The companies have entered into a memorandum of understanding to form a joint venture to produce battery cells and modules for North America. The new battery plant is planned to have an annual production capacity of 40 gigawatt hours
The parties say they are aiming to break ground for the new plant by Q2 2022, although the location has yet to be finalised, with the start of production targeted for Q1 2024. The batteries produced at the new facility will be supplied to Stellantis assembly plants throughout the US, Canada, and Mexico for installation in next-generation electric vehicles
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