Stellantis is pondering more electric vehicle battery facilities in North America, in addition to the two it currently owns in the U.S. and Canada.
Speaking to reporters during the opening of a facility in France, CEO Carlos Tavares said the automaker was interested in building one or two new EV battery factories in the U.S., to help meet the anticipated demand for zero-emission vehicles. Investments in North America had become “very favorable,” the Stellantis chief claimed, thanks to the Biden Administration’s Inflation Reduction Act. The bill allows manufacturers and consumers to access incentives for domestically produced EVs as part of the President’s strategy to reduce dependence on China.
Last week, Stellantis announced that its joint venture with Samsung SDI had chosen Indiana as the location for a new $2.5 billion EV battery facility. The decision arrived shortly after local officials arranged to give the two companies one of the largest incentive packages seen in the region. The agreement came some months after an earlier factory deal, this time through a partnership between the automaker and LG Energy Solution, fell through.
EV batteries are an essential component of Stellantis’ DARE Forward 2030 strategy. The plan seeks to drastically increase the OEM’s revenue while simultaneously reducing its carbon emissions. If the brand elects to build more facilities in the U.S. to help meet its financial and de-carbonization goals, they will be joined by an increasing number of companies looking to expand their domestic manufacturing presence.