Kokomo lands second Stellantis, Samsung SDI EV battery plant
INDIANAPOLIS (WISH) — Automaker Stellantis and Samsung SDI will invest just over $3 billion in a new electric-vehicle battery manufacturing plant in Kokomo, Gov. Eric Holcomb announced Wednesday.
It will be the joint venture’s second StarPlus Energy “gigafactory” in Kokomo. Plans for the first facility were announced in May 2022.
Stellantis and Samsung SDI plan to create 1,400 new, high-wage positions, growing its total planned workforce to 2,800.
“Indiana’s economy is on a roll,” Holcomb said in a release. “Today’s commitment from Stellantis and Samsung SDI will double the capital investment, the new jobs created, and the impact this joint venture will have on Kokomo and the state of Indiana for decades to come.
The second EV manufacturing plant will be built next to the first facility, which is currently under construction and on track to open in 2025.
The new facility is expected to start production in early 2027 and will supply batteries for a range of electric vehicles.
The plant will have an initial annual production of 34 gigawatt hours, “significantly increasing the joint venture’s U.S. capacity and accelerating Stellantis’ transition to electric vehicles,” the Indiana Economic Development Corporation said.
When complete, the two StarPlus Energy gigafactories will provide Samsung SDI with its “largest production base for electric vehicle batteries in North America,” Yoon-ho Choi, president and CEO of Samsung SDI, said in a release.
Stellantis, which counts Chrysler and Dodge among its subsidiaries, has more than 7,000 employees in the Hoosier state. Its facilities in Indiana are not currently affected by the ongoing United Auto Workers strike, but this could change as the labor negotiations evolve.
In February, Stellantis announced plans to invest $155 million in three Indiana facilities to help power future electric vehicles assembled in North America.
The investment announced Wednesday will increase the automaker’s total investments in Indiana to more than $6 billion since 2020.
The state is working with Stellantis and Samsung SDI to finalize performance-based tax breaks and grants based on the venture’s investment and job retention plans. The city of Kokomo, Howard County, Duke Energy Indiana, and others will consider additional incentives.
Kokomo Mayor Tyler Moore tells News 8 that the construction of another electric vehicle battery manufacturing plant is something to look forward to. “That is both humbling and exciting that they’ve chosen to keep Kokomo on the forefront of this new technology in the automotive industry,” Moore said.
Moore says it’ll put Indiana on the map for electric vehicles.
“They continue to trust and rely on the local workforce and their decisions to invest here locally, we look forward to a long and prosperous relationship working with them as the automotive industry transitions to electric vehicles,” Moore said.
Moore says the construction will make a positive impact on the city’s economy. He says with the new growth the city is focused on bringing in developers to invest in new homes. “We’ve been having discussions with a number of developers for months now knowing that even prior to the announcement of the second battery plant we were behind in housing facilities.”
News 8 reached out to the local UAW chapters in Kokomo for comment but have not heard back yet.