Indiana News

Stellantis, Samsung SDI Commit Over $3B For Second IN Battery Plant

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INDIANAPOLIS (WOWO) — Stellantis and Samsung SDI are committing over $3 billion for the construction of a second battery manufacturing facility in Indiana.

This new “gigafactory” located in Kokomo will specialize in producing batteries for electric vehicles, and it is anticipated to generate approximately 1,400 employment opportunities.

“Indiana’s economy is on a roll. 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. This decision puts Hoosiers squarely at the center of innovating and developing the future of mobility, catalyzing Indiana’s leadership position in tomorrow’s global economy.” – Gov. eric Holcomb

In May 2022, the two companies had previously revealed their intentions to establish an EV battery plant within the same city, also with the potential to create 1,400 jobs, with its operational commencement set for 2025.

“Our battery ecosystem is the foundation of our electrification strategy and our great partners Samsung SDI, the state of Indiana, and the city of Kokomo have created a compelling case for locating our sixth gigafactory in Kokomo. The BEVs coming to our North America brands play an important role in our drive to offer clean, safe and affordable mobility for all and achieve the bold goal of carbon net zero by 2038.” – Mark Stewart, Stellantis COO North America.

The forthcoming second plant will be situated in close proximity to the initial one, according to the companies. It is scheduled to commence operations in 2027.

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