Stellantis Samsung form JV for EV battery plant

Stellantis and Samsung SDI are working together to build a second plant to make batteries for electric vehicles in the United States. This is a big step in their plans to electrify North America.

EV Battery plant
Representational Image EV Battery Plant

The Kokomo plant will open in 2025. It needs a big investment of more than $2.5 billion and could grow to more than $3 billion. The project is projected to create 1,400 new jobs in Indiana and will be able to make 23 GWh worth of batteries per year at first.

The plant is part of the joint effort between Stellantis and Samsung SDI called StarPlus Energy. It can make up to 34 GWh of electricity each year. Stellantis’ 2030 electrification plan, which aims to offer at least 25 new battery-electric cars on the North American market by the end of the decade, depends on this big increase in battery capacity.

The schedules for these battery plant are carefully planned. Stellantis’ plant in Kokomo is supposed to come first, followed by GM and Samsung SDI’s plant, and then the bigger plant, which will start making batteries in 2027.

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