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.
-
Perfect season has turned Indiana into the toast of college football
Even the start of basketball season at one of the sport’s true blueblood programs cannot diminish the excitement of college football’s biggest surprise and best story.
Colts give Anthony Richardson the starting QB job for rest of season
Richardson will move forward as the starting quarterback for the Colts. This comes two weeks after coach Shane Steichen benched Richardson in favor of 39-year-old Joe Flacco.
IMPD arrests 21-year-old for violating home detention, possessing firearm
A traffic stop led to the arrest of a 21-year-old after he allegedly violated the terms of his home detention and had a firearm illegally.
Title IX investigation still pending 2.5 years later at MSD Decatur Township
A federal investigation into how the Metropolitan School District of Decatur Township handled sexual misconduct allegations is still pending two and a half years later.
