Stellantis & Samsung SDI to get $7.5B+ in state loans

The U.S. Government has greenlit low-interest loans to the tune of $7.54 billion for the joint enterprise of Stellantis and Samsung SDI.

The companies are planning a construction of two battery plants in Indiana expected to supply enough power cells for 670,000 EVs per year. Rivian received a similar loan in the amount of $6.57 not long ago.

Apparently, President-elect Donald Trump and his team aren’t too fond of this government policy. According to Vivek Ramaswamy, the newly appointed head of the Department for Government Efficiency, these loans are politically motivated and aim at undermining the positions of Tesla Inc. on the electric vehicle market. The new government will try to eliminate such practices to keep the playing field level across all automakers, he says.