Kokomo City Council Approves Stellantis Tax Abatement

In February, Stellantis announced it would invest $155 million across the Kokomo Casting Plant, Kokomo Transmission Plant, and Indiana Transmission Plant. This investment is meant to partly retool the plants to be able to begin production of electric drive modules (EDMs) for future Stellantis-made battery electric vehicles (BEVs). This week, the Kokomo City Council voted in favor of a 10-year tax abatement and a memorandum of agreement between the city and Stellantis. The message of the agreement notes that 262 jobs will be retained, with the cumulative salaries of those employees totaling $17.4 million.  

Production of the EDMs for STLA Large and STLA Frame platforms is expected to begin in the third quarter of 2024. Specifically, these EDMs are expected to allow a driving range of up to 500 miles for Stellantis BEVs. The casting and machining of the gearbox will be completed at the Kokomo plants, and the gear machining and final assembly will be at the Indiana Transmission Plant. 

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