Stellantis N.V. and Samsung SDI will invest over $2.5 billion to establish an electric-vehicle (EV) battery manufacturing facility in Kokomo, Ind. The project will create 1,400 new jobs in Kokomo and the surrounding areas. Targeted to start up in 2025, the plant aims to have an initial annual production capacity of 23 gigawatt hours (GWh), with a goal to increase to 33 GWh in the next few years. The facility will supply battery modules for a range of vehicles produced at Stellantis’ North American assembly plants. Plant construction activities are scheduled to begin later this year with production operations planned to launch in the first quarter of 2025.
Samsung SDI will apply its PRiMX technology to produce EV battery cells and modules for the North American market. Samsung launched PRiMX last year and unveiled the brand at CES 2022 in January.
As part of its Dare Forward 2030 strategic plan, Netherlands-based Stellantis announced plans to have global annual battery EV sales of 5 million vehicles by 2030. The company also increased planned battery capacity by 140 GWh to approximately 400 GWh. This announcement is part of the long-term electrification strategy to invest $35 billion through 2025 in electrification and software globally.