SSDIY Samsung SDI Company Ltd (PK)

--South Korean battery maker Samsung SDI Co. and Jeep parent Stellantis NV are to set up a joint venture to produce electric-vehicle batteries, news agency Yonhap reports, citing unnamed sources.

--Samsung SDI and Stellantis recently signed a memorandum of understanding on the joint venture to build a battery production plant in the U.S., Yonhap says, citing the sources.

--Although details on the battery-plant investment are not known, it will be worth billions of dollars, Yonhap says.

--On Monday, Stellantis signed a memorandum of understanding with LG Energy Solution to build a lithium-ion battery plant in North America.

Full story: https://bit.ly/3GaCrht

Write to Ed Frankl at edward.frankl@dowjones.com

(END) Dow Jones Newswires

October 19, 2021 03:14 ET (07:14 GMT)

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