Stellantis and Samsung SDI will partner to build a new battery factory for electric cars in Kokomo, Indiana.
Stellantis, the parent company of Dodge, Jeep, and Chrysler, has selected Kokomo, Indiana, as the site for its next electric vehicle battery factory. The plant will be built in partnership with South Korea’s Samsung SDI and cost between $2.5 and $3 billion. The two companies will share the cost of the factory, which is expected to create 1,400 new jobs in Kokomo, where Stellantis already operates several manufacturing facilities for castings, transmissions, and engines.
At a press conference to announce the new Indiana factory, Stellantis COO Mark Stewart acknowledged that some industry observers believe the company is lagging behind its crosstown rivals in Detroit. “Sometimes people think that we’re behind. ‘We are not. Today we already have 19 different [battery-electric vehicles] in the marketplace around the world. We have two [plug-in hybrid vehicles] here in the US, so we are behind when it comes to bringing BEVs to this marketplace, but not much.
The new Kokomo factory is scheduled to start production in 2025. It will have an initial annual production capacity of 23 GWh with an increase to 33 GWh in the next few years. The company’s Windsor factory with LG will have an annual capacity of 45 GWh for a total of 78 GWh. In comparison, Ford has said its three new battery plants will enable 129 GWh a year of production capacity. General Motors is planning four new battery factories in the US for a total annual capacity of 140 GWh, while Volkswagen is aiming to have six battery cell production plants operating in Europe by 2030 for a total of 240 GWh a year .
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