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.
-
Ball State ends DEI programs to comply with President Trump's executive order
Ball State University's board of trustees approved a resolution to revise or end policies and programs relating to DEI to comply with President Trump's executive order.
Bloomington utility workers have fixed dozens of water main breaks this year
City of Bloomington Utilities has repaired 32 water main breaks so far this year. A water main break in the Gentry neighborhood Wednesday led to a boil water advisory due to low water pressure.
New west side food pantry aims to feed body and soul
While many attend church for prayer and worship, one group at a west side church is adding a unique element to their services.
1 dead, three others injured in two-vehicle Noblesville crash
A 38-year-old man is dead following a crash near the intersection of 146th Street and Promise Road in Noblesville Wednesday night, police said.
