KOKOMO — Stellantis is investing $2.5 billion in an electric vehicle battery facility in Kokomo.
Stellantis, formed last year with the merger of Fiat Chrysler and France’s PSA Peugeot, and Samsung SDI, are partnering for the joint venture.
The plant in Kokomo will create about 1,400 jobs.
Construction on the plant is scheduled to begin in 2022 and operations are planned to launch in the first quarter of 2025.
Kokomo Mayor Tyler Moore says the announcement puts Kokomo and Indiana at the forefront of technology and automotive manufacturing.
"[I'm] beyond ecstatic. This is such an incredible opportunity not only for the state of Indiana but specifically Kokomo and our local workforce," Moore said.
The joint venture will gradually invest more than $2.5 billion to build the facility near the existing facility in Kokomo, but the investment could gradually increase to $3.1 billion.
The plant will is expected to initially achieve a production capacity of 23 gigawatt hours with an increase to 33 GWh in the years later.
In March it announced plans to spend $4.1 billion in a joint venture with LG Energy Solution of South Korea to build one of them in Windsor, Ontario. That plant will employ about 2,500 people.
The Associated Press contributed to this story.
-
Silver Alert issued for missing 29 year old woman from Mishawaka
Megan McGee was last seen at 8 a.m. wearing a blue hooded sweatshirt and blue jeans. Anyone with information should call 574-258-1678 or 911.
Pence criticizes Trump's pick of RFK Jr. for HHS secretary
Former Vice President Mike Pence is calling on Senate Republicans to block Robert F. Kennedy from being confirmed as Health and Human Services secretary.
2024 BOA Grand Nationals has most participants in its history
Bands of America Grand National Championships draws talent from across the country to Lucas Oil Stadium. This year, 113 bands are represented.
Goo Goo Dolls to perform in Indianapolis in Aug. 2025
The Grammy-nominated rock band will be performing at Everwise Amphitheater at White River State Park on Friday, Aug. 15, 2025, as part of their Summer Anthem Tour.
