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Samsung SDI may want Biden’s cash to settle on new battery factory

Cons. Discr. - Autos 1118 Info Tech - Tech Hardware 737 U.S. 5216

Samsung SDI may spend up to 4 trillion Korean won ($3.48 billion) on building new battery manufacturing facilities in the U.S. for Stellantis and Rivian. That follows the Biden administration’s critical supply chain review which may lead to incentives for such facilities as well as USMCA rules which have introduced stricter rules-of-origin for automakers. Samsung SDI’s supplies to the U.S. have surged recently with U.S. seaborne imports linked to the firm up by 34.5% sequentially in Q2’21. That outpaced total U.S. seaborne imports of lithium ion batteries which fell by 1.6% over the same...

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