Samsung, Stellantis Announce $2.5 Billion Indiana Battery Plant
KOKOMO, IN—Stellantis and Samsung are investing $2.5 billion in a new lithium-ion battery assembly plant here. The factory will produce battery cells and modules to supply Stellantis’ North American assembly plants.
“Just under one year ago, we committed to an aggressive electrification strategy anchored by five gigafactories between Europe and North America,” says Stellantis CEO Carlos Tavares. “Today’s announcement further solidifies our global battery production footprint and demonstrates Stellantis’ drive toward a decarbonized future outlined in Dare Forward 2030.”
The companies plan to begin operations at the factory in 2025 with an initial production capacity equivalent to 23 gigawatt-hours of energy per year. Officials hope to increase the annual capacity to 33 gigawatt-hours in subsequent years and make more additions in accordance with the demand for Stellantis’ electric vehicles.
The project is expected to create 1,400 new jobs.
The automaker has set a goal of selling 5 million battery-electric vehicles per year by 2030.
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