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Tuesday, 24 May 2022 10:46

Stellantis, Samsung SDI to Build Lithium-Ion Battery Production Plant in Indiana

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Stellantis N.V. and Samsung SDI on May 24 announced they will establish an electric-vehicle battery manufacturing facility in Kokomo, IN.

Targeted to start in 2025, the plant aims to have an initial annual production capacity of 23 gigawatt-hours (GWh), with an aim to increase to 33 GWh in the next few years. The total capacity would increase further as demand for Stellantis electric vehicles is expected to rise.

 

The 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 up to $3.1 billion.

 

The new facility will supply battery modules for a range of vehicles produced at Stellantis' North America assembly plants. Plant construction activities are scheduled to begin later this year with production operations planned to launch in the first quarter of 2025.

 

"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' drive toward a decarbonized future as outlined in Dare Forward 2030.

 

"I am grateful to Gov. Eric Holcomb and Secretary of Commerce for the Indiana Economic Development Corporation Brad Chambers, along with Mayor Tyler Moore and their teams, as well as to all my colleagues for their support and dedication to bring this operation to Kokomo, a city that holds a rich and long history for our company."

 

"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. We will make sincere efforts to bring satisfaction to the market with top-class quality products in the future, and we will contribute toward meeting the climate change target."

 

"It's another incredibly exciting day to be back in Kokomo celebrating such a transformational investment from Stellantis and our new partners at Samsung," said Holcomb. "Today's announcement is another step toward positioning Indiana as...


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