Stellantis’ new EV battery plant is massive
The new building will create over 3,000 jobs and is set to be one of the largest battery production facilities in North America, at 4.5 million square feet. Though battery technology is continuing to change, affecting production speed, the plant is expected to produce around 450,000 battery packs per year. Batteries produced by the plant are expected to hit markets sometime in the summer of 2024.
Why did Stellantis and LG invest in this new facility?
Stellantis expects slightly more than half of their vehicles on the market to be fully electric by the year 2030, which means that the Dodge, Fiat, Jeep, and Chrysler vehicles (among many other brands) that the Netherlands-based car company plans to produce will need batteries. Lots of them.
Stellantis isn’t the only company that’s pumping big money into EV-developing technology. Honda, GM, and even the U.S. government have all set their sights on producing EVs.
Securing the resources available for EV production is essential to ensuring a country or brand’s place in the emerging EV market, which is currently dominated in the U.S. by Tesla. That may not show any signs of stopping either, with one of Tesla’s key graphite producers recently getting a massive loan from the U.S. government to expand their mining operations.
Will this new battery plant reset the North American Supply Chain?
It’s too early to know for certain, but the more North America-based mining and EV battery facilities the better. Even though Stellantis and LG Energy are based in foreign countries (LG being a South Korean brand), having their operations close to Canada, the U.S., and Mexico ensures that all three countries will enjoy shorter wait times for EV batteries.
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