Kokomo Lands Second Stellantis, Samsung SDI EV Battery Plant

October 25, 2023

Automaker Stellantis and Samsung SDI are set to invest just over $3 billion in a new electric-vehicle battery manufacturing plant in Kokomo. This marks the second StarPlus Energy “gigafactory” in Kokomo, with the first announced in May 2022. The new facility is expected to start production in early 2027 and will create 1,400 new, high-wage positions, growing the total planned workforce to 2,800. This investment brings Stellantis’ total investments in Indiana to over $6 billion since 2020.‘”Indiana’s economy is on a roll,” Holcomb said in a release. “Today’s commitment from Stellantis and Samsung SDI will double the capital investment, the new jobs created, and the impact this joint venture will have on Kokomo and the state of Indiana for decades to come. The second EV manufacturing plant will be built next to the first facility, which is currently under construction and on track to open in 2025. The new facility is expected to start production in early 2027 and will supply batteries for a range of electric vehicles. The plant will have an initial annual production of 34 gigawatt hours, “significantly increasing the joint venture’s U.S. capacity and accelerating Stellantis’ transition to electric vehicles,” the Indiana Economic Development Corporation said.” ‘Read more