In a partnership with Samsung, Stellantis claims to be constructing a second battery factory for electric vehicles in the United States.
Despite not revealing the location, the automaker announced on Monday that it has entered into a memorandum of understanding with Samsung SDI as part of its already-existing joint venture, StarPlus Energy.
A joint-venture facility in Kokomo, Indiana, which is currently under construction and expected to begin operations in early 2025, will be joined by the new factory when it opens in early 2027.
By the end of the decade, the business will be able to offer at least 25 new battery-electric vehicles in North America, according to CEO Carlos Tavares’ prepared remarks.
By 2030, battery-electric vehicles will account for half of Stellantis’ sales of light trucks and passenger cars in the United States.
In the same time span, the corporation wants all of its sales in Europe to be electric.
There was no information provided about the new venture’s finances. Up to 1,400 people will work at the Kokomo plant, which is about 60 miles (97 kilometers) north of Indianapolis and will cost about $2.5 billion.
A $4.1 billion battery plant in Windsor, Ontario, which would employ roughly 2,500 people, was also previously announced by the business.
A joint venture with LG Energy Solution has been formed. Fiat Chrysler and France’s PSA Peugeot merged to establish Stellantis in 2021.
JOIN US ON WHAT'SAPP, TO GET INSTANT STATUS UPDATES AND BE IN THE KNOW.
CLICK HERE
