Benzinga | Oct 19, 2021 09:10AM EDT

Samsung SDI, Stellantis Collaborate Over EV Battery Production

* South Korean battery maker Samsung SDI Co Ltd (OTC:SSDIY) and automaker Stellantis NV (NYSE:STLA) collaborated to produce electric vehicle batteries for the North American market, Reuters reports.

* The Samsung Electronics Co Ltd (OTC:SSNLF) affiliate already has EV battery plants in South Korea, China, and Hungary, supplying to customers like Bayerische Motoren Werke AG (OTC:BMWYY) and Ford Motor Co (NYSE:F). The companies are reviewing the plant location.

* Recently, Stellantis collaborated with LG Chem Ltd (OTC:LGCLF) owned battery maker LG Energy Solution to produce battery cells and modules for North America.

* Related Content: Samsung Targets Tesla, Nio With Lithium-ion Phosphate Battery Development: Korea Herald

* Price Action: STLA shares traded higher by 0.05% at $19.59 premarket on the last check Tuesday.