Stellantis and Samsung SDI have agreed to establish an EV battery manufacturing facility in Kokomo, Indiana. Construction is scheduled to begin later this year, and the plant is expected to go into production in 2025 with an initial annual capacity of 23 GWh, which is slated to increase to 33 GWh over “the next few years.”
Stellantis says the new joint venture company will invest more than $2.5 billion and create 1,400 new jobs in Kokomo and the surrounding areas. The investment could gradually increase to $3.1 billion.
The new facility will supply battery modules for a range of vehicles produced at Stellantis’s North American assembly plants. Samsung SDI will apply its new PRiMX technology, which was unveiled at CES 2022 in January.
“Just under one year ago, we committed to an aggressive electrification strategy anchored by five gigafactories between Europe and North America,” said Carlos Tavares, CEO of Stellantis. “Today’s announcement further solidifies our global battery production footprint and demonstrates Stellantis’s drive toward a decarbonized future as outlined in Dare Forward 2030.”
“We express our gratitude toward officials from the state of Indiana and Stellantis for supporting the final selection of the plant site in Indiana,” said Yoon-Ho Choi, CEO of Samsung SDI. “We have secured a solid foothold in a rapidly growing North America EV market through the joint venture with Stellantis.”