Stellantis plans $2.5 billion factory with battery supplier Samsung SDI
The parent company of Jeep, Ram, Dodge, Chrysler, and more—Stellantis—has announced a joint-venture electric-vehicle battery plant with South Korea’s Samsung SDI, in Kokomo, Indiana. Due to start in 2025, the Indiana plant will create 1,400 jobs and will have an initial annual capacity of 23 gigawatt-hours, with aims to hit 33 GWh within several years. It’s a smaller plant than the one confirmed some weeks ago for Canada. “The total capacity would increase further as demand for Stellantis electric vehicles is expected to rise,” said the automaker, in a release about the Indiana plant.
Kokomo is already the site of a prolific, UAW-represented transmission plant, which was revamped less than a decade ago to build new-generation eight- and nine-speed transmissions, then restarted again recently to make engines. Stellantis said that it aims for 400 GWh of annual capacity by 2030, including two in North America. As the company outlined last summer, it plans to spend about $35. The investment is the latest in a long series of matches made between automakers and battery suppliers over the past two years.
Additionally, Hyundai revealed last week that it plans to make 300,000 EVs annually in Georgia, at a plant that will start producing vehicles in 2025; a companion battery plant is in the works, too, with a joint-venture partner yet to be announced. Samsung SDI was the supplier of cells for the BMW i3 and other formative electric vehicles, and it’s currently the primary supplier for Rivian.
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