Stellantis N.V. with Samsung SDI has disclosed plans to build an electric vehicle battery production facility in Kokomo. The facility, which is scheduled to open in 2025, will have a starting annual production output of 23GWh, with the capacity increasing to 33GWh in the future.
The joint venture will contribute more than $2.5 billion and create 1,400 new job opportunities in Kokomo and nearby areas. The investment might eventually reach $3.1 billion.
The new plant will manufacture battery modules for a variety of automobiles assembled at Stellantis’ North American manufacturing sites. Plant development is set to begin early this year, with the production process set to commence in the first half of 2025.
The overall capacity would climb further as the need for Stellantis EVs rises. According to Carlos Tavares, CEO of Stellantis, the company has committed to an intensive electrification plan supported by five spread across Europe and North America less than a year ago.
Today’s announcement confirms Stellantis’ worldwide battery production infrastructure and underscores the company’s commitment to a low-carbon future, as articulated in Dare Forward 2030. During the unveiling of the battery manufacturing plant, Kokomo Mayor Tyler Moore commended both Samsung and Stellantis for their collaboration.
Brad Chambers, ICDC’s secretary of commerce, noted that the important collaboration with Stellantis and Samsung SDI is perfectly in line with the 5E emphasis on the energy revolution and establishing an economic future.
Samsung SDI will use its PRiMX innovation to manufacture EV battery cells and modules for the North American industry at its Indiana facility.
Stellantis has also announced its intention to have global yearly battery electric vehicle revenues of five million vehicles by 2030 as part of the Dare Forward 2030 business plan, with 100 percent passenger electric car EV total sales in Europe and a 50 percent passenger car and light-duty electric truck units sold in North America.