Stellantis announces $2.5B electric-vehicle battery plant in Kokomo
KOKOMO, Ind. (WISH) — Gov. Eric Holcomb and Secretary of Commerce Brad Chambers were joined by the executives from Stellantis and Samsung SDI Tuesday in Kokomo to announce a new investment.
Stellantis and Samsung SDI are investing $2.5 billion to build an electric-vehicle battery manufacturing facility, which will be in close proximity with the Stellantis building.
This multimillion-dollar business venture is expecting to bring 1,400 new jobs to the area.
“Large-scale investments like this are a testament to Indiana’s business-friendly climate, its strong workforce, a growing population and our continued investment in quality of life,” Chambers said in a statement. “The economic growth and momentum in our state this year is unprecedented.”
The facility will be used to supply batteries for a range of electric vehicles and is expected to annually produce 23 gigawatt hours with an increase over the next few years.
Construction begins later in the year and is planned to launch in the first quarter of 2025.