Stellantis picks Indiana for its $2.5 billion EV battery factory with Samsung
Posted On May 24, 2022
Stellantis, the parent company of Dodge, Jeep, and Chrysler, has selected Kokomo, Indiana, as the site for its next electric vehicle battery factory. The plant will be built in partnership with South Korea’s Samsung SDI, which is a leading EV battery maker. The companies made the announcement Tuesday alongside Indiana Governor Eric Holcomb and several other local officials in Kokomo.
The new facility will create 1,400 new jobs and cost $2.5 billion to construct, though Stellantis and Samsung are willing to spend up to $3 billion on the project, Mark Stewart, chief operating officer of Stellantis, said at the press conference. The cost will be split between the two companies.