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Stellantis-Samsung JV to Build EV Battery Plant in Indiana

May 24, 2022
The joint-venture lithium-ion battery project formed with Samsung in 2021 plans a $2.5-billion plant, to start up in 2025.

Automaker Stellantis NV confirmed plans to establish a manufacturing operation for lithium-ion batteries in Kokomo, Ind., where it already operates an aluminum foundry and transmission manufacturing plants and three transmission plants. The new battery plant – an effort of the joint-venture Stellantis entered with Samsung SDI last October – is seen creating 1,400 new jobs, according to Stellantis, with start-up targeted for 2025.

Samsung SDI manufactures rechargeable batteries used in IT operations and energy-storage systems, as well as automobiles. Samsung’s PRiMX lithium-ion battery technology was introduced late last year.

With an initial budget of more than $2.5 billion, the new Indiana plant will produce battery modules for various models assembled by Stellantis in North America at an initial capacity of 23 gigawatt-hours (GWh) annually.

The partners aim to increase output to 33 GWh/year – but the schedule for that expansion was not indicated. Such an expansion could help increase the capital investment to $3.1 billion.

Plant construction is scheduled to begin later this year, Stellantis noted.

Last summer Stellantis made a four-year, $35.5-billion commitment to develop new battery-electric vehicles, and to increase low-emission vehicle sales to 70% of its European sales and 40% of its U.S. sales by 2030.

Stellantis and Samsung executives each thanked Indiana officials for unspecified support in their plan to establish EV battery production in the state. “It’s another incredibly exciting day to be back in Kokomo celebrating such a transformational investment from Stellantis and our new partners at Samsung,” stated Governor Eric Holcomb. “Today’s announcement is another step toward positioning Indiana as a leader in the future of mobility, battery technology and clean energy.”

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