New plant will start production in early 2027
Stellantis NV and Samsung SDI Co Ltd. plan to build a second U.S. battery manufacturing facility, the companies said Wednesday.
The new facility will be in Kokomo, Ind. and will be part of the StarPlus Energy joint venture. Stellantis STLA, +2.46% and Samsung SDI 006400, +4.29% expect that the new plant will start production in early 2027 and have an annual capacity of 34 gigawatt hours. There is another StarPlus Energy gigafactory under construction in Kokomo that’s expected to open in the first quarter of 2025.
The joint venture intends to invest more than $3.2 billion in and around Kokomo and create 1,400 jobs. “Through construction of the second battery plant of StarPlus Energy, Samsung SDI will be establishing its largest production base for electric vehicle batteries in North America,” Samsung SDI Chief Executive Yoon-ho Choi said in a release.
Mark Stewart, Stellantis’ chief operating officer for North America, added that his company’s battery ecosystem was “the foundation of our electrification strategy.”
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
UAW strike update: GM, Stellantis, Ford all lay off more workersFord, General Motors, and Stellantis have laid off more employees as the UAW strike continues.
Read more »
US: Stellantis Excels In PHEV Segment In Q3 2023In Q3 2023, Stellantis PHEV sales amounted to 37,079 units, which is 132 percent more than a year ago, and another consecutive quarterly record.
Read more »
US: Stellantis Excels In PHEV Segment In Q3 2023In Q3 2023, Stellantis PHEV sales amounted to 37,079 units, which is 132 percent more than a year ago, and another consecutive quarterly record.
Read more »
2023 Layoff Tracker: GM, Stellantis And Ford Cut Thousands As UAW Strike ContinuesI am a Boston-based reporter. Before joining Forbes, I covered the environment, local government and the arts for a small-town newspaper on Nantucket. My previous work includes NPR, WBUR, WCAI and Nantucket Today. I am a graduate of the University of Massachusetts, Amherst, with a degree in political science. Email me at bbushardforbes.com
Read more »
Deputies need help locating missing 16-year-old girl from northwestern IndianaState police said a Jeep was traveling northbound when it ran off the road, overcorrected, and then struck a guard rail.
Read more »
2 elderly people found dead in NW Indiana home from suspected carbon monoxide poisoningAuthorities say two elderly people were found dead in a northwestern Indiana home from suspected carbon monoxide poisoning after bird nests apparently clogged an air exhaust pipe. The Times of Northwest Indiana reports a relative called 911 Sunday morning after discovering the two people unconscious in a Merrillville home. Merrillville Fire Chief Ed Yerga says emergency responders detected high levels of carbon monoxide inside the house and the two people are presumed to have died from exposure
Read more »