StarPlus Energy

What StarPlus Energy does

StarPlus Energy is a 50/50 joint venture between Samsung SDI and Stellantis (via FCA US LLC), established in 2022 to manufacture lithium-ion battery cells and modules for electric vehicles in North America. The company is headquartered in Kokomo, Indiana, where Plant 1 (33 GWh annual capacity) began production in 2024 and Plant 2 (34 GWh) is under construction with planned production start in early 2027, combining for a planned 67 GWh of total annual capacity — sufficient at full ramp to supply approximately 670,000 vehicles annually. The operational footprint includes 2,800 permanent jobs across both facilities and a peak of 3,200 construction jobs during build-out, supplemented by an emerging supplier park including Hanjung America's planned ESS facility in Huntington, Indiana.

The company's core technology centers on prismatic lithium-ion battery cells leveraging Samsung SDI's proprietary battery chemistry exceeding 120 Ah capacity, optimized cell design for high energy density per unit volume, fast charging capability, and the Samsung Battery Box 2.0 packaging architecture featuring No Thermal Propagation safety technology. Battery output is sold almost exclusively to Stellantis under long-term supply agreements for integration into North American EV platforms including the Ram 1500 REV and ProMaster EV, with a secondary revenue stream from Energy Storage System (ESS) batteries supplied through Samsung SDI's PrismStack brand to U.S. energy companies serving renewable integration and AI data center power backup. StarPlus is positioned as the only non-Chinese manufacturer of prismatic ESS batteries in North America.

StarPlus Energy operates as a captive B2B manufacturer with no public consumer-facing sales motion. Revenue is generated through hardware sales of battery cells and modules under long-term enterprise supply agreements with parent Stellantis (EV batteries) and Samsung SDI (ESS batteries, including a $1 billion contract for 2024-2029 with an unnamed U.S. energy company). Capitalization has been driven by over $6.3 billion in committed JV investment from Samsung SDI and Stellantis, supplemented by a $7.54 billion loan ($6.85 billion principal plus $688 million capitalized interest) from the U.S. Department of Energy Loan Programs Office under the ATVM program, closed in December 2024. Recent reporting indicates Stellantis is exploring an exit from the JV amid EV market softness, while Samsung SDI is reportedly increasing its financial support and the venture is pivoting some production from EV cells to ESS — material structural risks that investors must price into any thesis on the asset.

Name

StarPlus Energy

Legal name

StarPlus Energy

Website

https://starplusenergyus.com

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

501–1,000 employees

Short description

StarPlus Energy is a 50/50 Samsung SDI–Stellantis joint venture manufacturing lithium-ion prismatic battery cells and modules in Kokomo, Indiana, with 67 GWh planned capacity serving Stellantis North American EVs and U.S. energy storage customers.

Ownership category

akta.pro rank

Product category

EV Battery Manufacturing

NAICS

Battery Manufacturing (33591)

SIC

Electronic & Other Electrical Equipment (No Computer Equip) (3600)

akta.pro primary industry

Battery Cell Manufacturing (EV) (IMACACAB)

akta.pro secondary industries

Battery Pack & Module Manufacturing (EV) (IMACACAA), Battery Cells (Li-ion, LFP, Sodium-ion, Lead-acid, NiMH) (IMAGAHAA)

Keywords

• Lithium-ion battery manufacturing
• EV battery production
• Energy storage systems
• Prismatic battery cells
• Battery gigafactory

Headquarters

HQ city

Kokomo

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Infrastructure, Supply Chain, Technology or R&D, Personnel, Operations

Revenue model

1. EV Battery Sales: Manufacturing and sale of lithium-ion battery cells and modules for electric vehicles. All output is sold to Stellantis for integration into their EV models including Ram 1500 REV and ProMaster EV. Revenue is generated through long-term supply agreements with the parent company.
2. Energy Storage System Batteries: Production and sale of prismatic batteries for energy storage systems (ESS), including both NCA and LFP chemistries, to U.S. energy companies for renewable energy and AI data center applications.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels4 records

Core offering

StarPlus Energy manufactures high-performance lithium-ion battery cells and modules using prismatic cell technology at two gigafactories in Kokomo, Indiana. Its primary output is EV battery cells and modules supplied exclusively to Stellantis for integration into North American electric vehicles (Ram 1500 REV, ProMaster EV, and other BEVs), with secondary production of prismatic energy storage system (ESS) batteries—including NCA and LFP chemistries—sold to U.S. energy companies via Samsung SDI under multi-year contracts.

Product overview

StarPlus Energy is a joint venture between Samsung SDI and Stellantis offering a unified portfolio of battery solutions for e-mobility. The portfolio consists of three core pillars: Battery Production (lithium-ion cells and modules for Stellantis EVs), Research + Development (continuous battery technology innovation), and Energy Storage (ESS solutions for renewable energy). The company operates two gigafactories in Kokomo, Indiana - Plant 1 (operational since 2024, 33 GWh) and Plant 2 (planned for 2027, 34 GWh) - combining to total 67 GWh capacity. Supporting technologies include Samsung SDI's proprietary battery chemistry (120+ Ah capacities), advanced cell design for maximum energy density, and Battery Management Systems integrated with Stellantis EV platforms. The company also supports Samsung SDI's PrismStack brand of prismatic ESS batteries, positioning them as the only non-Chinese prismatic ESS battery manufacturer in North America.

Differentiator

Problem solved

Functional benefit

Products and services

• Lithium-ion EV battery cells and modules High-performance prismatic lithium-ion battery cells and modules manufactured at StarPlus Energy's Kokomo gigafactories for integration into Stellantis electric vehicles sold in North America. Uses Samsung SDI's proprietary chemistry exceeding 120 Ah, Battery Box 2.0 packaging with No Thermal Propagation safety, fast-charging capability, and integrated battery management.
• Prismatic energy storage system (ESS) batteries Large-format prismatic batteries in NCA and LFP chemistries for stationary energy storage, marketed through Samsung SDI's PrismStack brand to U.S. energy companies for renewable energy integration and AI data center power backup applications. Features Samsung Battery Box 2.0 with No Thermal Propagation safety technology.

Quantifiable outcome

• 67 GWh production capacity sufficient for ~670,000 vehicles annually
• +2 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Five partnerships are on record, tiered minor and core.

• Hanjung AmericaminorStrategic or Co-development Partner · 1 January 2026Hanjung America announced plans to build an ESS manufacturing facility in Huntington, Indiana to support StarPlus Energy operations, with groundbreaking in April 2026 and operations starting June 2027, initially hiring over 300 employees (potential to exceed 440).
• Ivy Tech KokomominorOthers · 1 January 2024Local educational institution partnership for workforce development and training programs to prepare students for manufacturing jobs at StarPlus facilities. Part of broader community benefits plan and workforce pipeline development.
• Purdue PolytechminorOthers · 1 January 2024Technical education partnership with Purdue University'sPolytechnic Institute for workforce training and skills development for StarPlus Energy manufacturing positions.
• Samsung SDIcoreStrategic or Co-development Partner · 1 January 2022Samsung SDI is the technology partner providing battery expertise, proprietary battery chemistry, R&D resources, and manufacturing knowledge. As 50% joint venture owner, Samsung SDI contributes battery technology including Samsung Battery Box 2.0 and No Thermal Propagation safety technology.
• StellantiscoreStrategic or Co-development Partner · 1 January 2022Stellantis is the automotive partner and primary customer, providing EV platform integration, battery management systems expertise, and guaranteed offtake for all production. As 50% joint venture owner and parent company, Stellantis ensures captive demand for all battery output.

Scale indicators7 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• LG Energy Solution: Largest non-Chinese EV battery cell manufacturer with multiple North American gigafactories serving GM, Honda, Hyundai, and others. Direct competitor to StarPlus for OEM contracts and at the cell and pack level for both EV and ESS applications.
• Ultium Cells (GM-LG Energy Solution JV): Joint venture between GM and LG Energy Solution building U.S. battery gigafactories (Warren, Spring Hill) for GM EVs. Closest structural analog to StarPlus as an OEM-anchored JV with multi-GWh scale.
• SK On: South Korean battery cell manufacturer with major North American gigafactories serving Ford, Hyundai, and Volkswagen. Competes head-to-head with StarPlus in North American EV cell capacity and OEM supply.
• Panasonic Energy: Operates the Tesla-anchored Gigafactory Nevada and is expanding U.S. capacity in Kansas. Comparable as a major non-Chinese cell producer with high-volume North American manufacturing.
• Ford-CATL BlueOval City (BlueOval SK JV equivalent models): Ford's BlueOval City and BlueOval Battery Park Michigan represent a parallel OEM-anchored North American battery manufacturing build-out, directly comparable in structure and scale to StarPlus.

Broad incumbents

• Samsung SDI: 50% parent of StarPlus and a globally established battery manufacturer; StarPlus effectively extends Samsung SDI's North American footprint, so the parent itself is the most direct technology and platform peer.
• CATL: World's largest EV battery maker; competes globally and indirectly in North America via licensing (e.g., Ford BlueOval). Sets the cost and technology benchmark that StarPlus must close.

Emerging players

• Envision AESC: Building large-scale U.S. battery gigafactories (Kentucky, South Carolina) primarily to supply BMW and other OEMs. Competes with StarPlus for next-generation cell supply contracts and government incentives.
• Gotion High-Tech: Chinese battery maker establishing a North American footprint in Illinois with a focus on LFP cells. Directly relevant to StarPlus's LFP ESS expansion and a key competitor for non-Chinese prismatic positioning.
• Fluence Energy: Global ESS system integrator that buys prismatic and other cells at scale. Highly relevant downstream customer and competitor benchmark for StarPlus's PrismStack ESS battery strategy.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/starplus-energy
• Instagraminstagram.com/starplusenergyllc
• Xx.com/starplusenergy1
• Facebookfacebook.com/StarPlusEnergyLLC

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about StarPlus Energy