Connect with us
Stellantis-Samsung-Battery-1400

Business

Stellantis, Samsung SDI to establish Indiana Li-Ion battery plant

Advertisement

Stellantis N.V. and Samsung SDI are establishing an electric vehicle battery manufacturing facility in Kokomo, Indiana. Targeted to start in 2025, the plant aims to have an initial annual production capacity of 23 gigawatt-hours, with an aim to increase to 33 GWh in the next few years. The total capacity could increase further as demand for Stellantis electric vehicles rises, the company says.

Click Here to Read More
Advertisement

The joint venture company will invest more than $2.5 billion and create 1,400 new jobs in Kokomo and the surrounding areas, the companies say. The investment could gradually increase up to $3.1 billion. The new facility will supply battery modules for a range of vehicles produced at Stellantis’ North America assembly plants. Plant construction activities are scheduled to begin later this year with production operations planned to launch in the first quarter of 2025, the company says.

At the Indiana factory, Samsung SDI will be applying its technology “PRiMX” to produce EV battery cells and modules for the North American market, the company says. Last year, Samsung launched its battery technology brand PRiMX and unveiled the brand at CES 2022 in January.

Advertisement

As part of the “Dare Forward 2030” strategic plan, Stellantis plans to have global annual battery-electric vehicle sales of 5 million vehicles by 2030, reaching 100% of passenger car BEV sales mix in Europe and 50% passenger car and light-duty truck BEV sales mix in North America. Stellantis also increased planned battery capacity by 140 GWh to approximately 400 GWh, to be supported by five battery manufacturing plants together with additional supply contracts.

Advertisement
Click to comment

Leave a Reply

Your email address will not be published.

POPULAR POSTS

Amped-Featured-Image-EP17 Amped-Featured-Image-EP17

Amped EV Podcast

Is solar the future of EV transport? (Sono Motors interview)

Connect
The Buzz - Electric Vehicle News