Stellantis has announced plans to invest $2.5 billion to build their first electric vehicle (EV) battery plant in the United States in Indiana. The automaker will partner with Samsung SDI on the project.
The two companies announced the project on Tuesday, saying it will be built in Kokomo, Indiana, where Stellantis is already established with several automotive manufacturing facilities and suppliers.
Construction on the new facility is slated to begin later this year, and will create 1,400 new jobs when it opens in the first quarter of 2025.
The facility will have an annual production capacity of 23 gigawatt hours (GWh) upon completion, but will expand to 33GWh in the following years, the company said.
Stellantis is the world’s fourth largest automaker and was formed last year after a merger of Fiat Chrysler and France’s PSA Group, which produces cars under the Peugeot, Citroën, DS, Opel and Vauxhall brands.
The automaker has been slow to embrace the EV revolution, but has committed to spending $35 billion to electrify its lineup of vehicles and have 98% of its models in North America and Europe be fully electric or plug-in hybrids by 2025, all with the hope of selling 5 million EVs by 2030.
