Stellantis N.V. and Samsung SDI have formed a joint venture company to establish an electric-vehicle battery manufacturing facility in Kokomo, IN. Targeted to start in 2025, the plant is expected to have an initial annual production capacity of 23 gigawatt hours (GWh), with a goal to increase to 33 GWh in the next few years. Total capacity would increase further as demand for Stellantis electric vehicles rises.
The joint venture company will invest over $2.5 billion and create 1,400 new jobs in Kokomo and surrounding areas. Total 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 American assembly plants. Plant construction is scheduled to begin later this year with production planned to launch in the first quarter of 2025.
