STELLANTIS PICKS KOKOMO INDIANA, FOR ITS SECOND US BATTERY VENTURE WITH SAMSUNG SDI

Jeep maker Stellantis says it will build a second electric vehicle battery factory in Kokomo, Indiana, that will create 1,400 new jobs.

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The $3.2 billion joint venture plant with South Korea's Samsung SDI is to start production early in 2027.

Construction already is underway on the companies' first joint venture factory in Kokomo, which is scheduled to open early in 2025. That $3.1 billion plant announced in May of 2022 also is expected to create about 1,400 new jobs.

The city of Kokomo, which is about 60 miles (97 kilometers) north of Indianapolis, made a compelling case to locate the second factory there, Stellantis Chief Operating Officer for North America Mark Stewart said in a statement this week.

Samsung SDI CEO Yoon-ho Choi said Kokomo will be the company's largest production base for electric vehicle batteries in North America. He says it will help Stellantis accelerate a transition to a new era of EVs.