Stellantis and Samsung Select Indiana State as $2.5 Billion Electric Vehicle Battery Factory

Stellantis, the parent company of Dodge, Jeep and Chrysler, has selected Kokomo, Indiana, as the site for its next electric vehicle battery plant. The plant will be built in partnership with South Korea’s Samsung SDI, a leading electric vehicle battery maker. The company announced Tuesday along with Indiana Governor Eric Holcomb and several other local officials in Kokomo.

Stellantis Chief Operating Officer Mark Stewart said at a press conference that the new facility will create 1,400 new jobs and will cost $2.5 billion to build. The cost is shared between the two companies.

Stellantis already operates several facilities in Kokomo, including a foundry, transmission and engine plant. The addition of EV battery plants will help accelerate automakers’ efforts to electrify their broad lineup, the company said. Stellantis previously announced that it would build a $4.1 billion electric vehicle battery plant with LG Energy Solutions in Windsor, Ontario.

Stellantis, which has been slower to adopt electric vehicles than Ford and General Motors, said it aims to sell 5 million electric vehicles by 2030. Most brands electrify their lineup, including an EV version of the Ram 1500 pickup truck, the Dodge electric muscle car, and several Jeep models. Earlier this year, the company announced that Chrysler would only sell electric vehicles by 2028.

As the automobile industry gradually shifts to electrification, the need to expand battery manufacturing capacity is growing. According to data and analytics company GlobalData, global battery production is expected to grow from 95.3 GWh in 2020 to 410.5 GWh in 2024.


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