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Stellantis, Samsung to invest $2.5 billion in Indiana EV battery plant

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Stellantis CEO Carlos Tavares holds a news conference after meeting with unions, in Turin, Italy, March 31, 2022.

Massimo Pinca | Reuters

Automaker Stellantis plans to invest more than $2.5 billion in partnership with Samsung SDI to build the automaker’s first U.S. electric vehicle battery manufacturing facility

The companies on Tuesday announced the new plant will be located in Kokomo, Indiana, where Stellantis already has a supplier base. It’s also centrally located to several of its vehicle assembly plants in the Midwest.

Stellantis said the new facility will supply lithium-ion battery modules for a range of vehicles. Plant construction is scheduled to begin later this year, with…



Source cnbc.com

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