KOKOMO — Stellantis is investing $2.5 billion in an electric vehicle battery facility in Kokomo.
Stellantis, formed last year with the merger of Fiat Chrysler and France’s PSA Peugeot, and Samsung SDI, are partnering for the joint venture.
The plant in Kokomo will create about 1,400 jobs.
Construction on the plant is scheduled to begin in 2022 and operations are planned to launch in the first quarter of 2025.
Kokomo Mayor Tyler Moore says the announcement puts Kokomo and Indiana at the forefront of technology and automotive manufacturing.
"[I'm] beyond ecstatic. This is such an incredible opportunity not only for the state of Indiana but specifically Kokomo and our local workforce," Moore said.
The joint venture will gradually invest more than $2.5 billion to build the facility near the existing facility in Kokomo, but the investment could gradually increase to $3.1 billion.
The plant will is expected to initially achieve a production capacity of 23 gigawatt hours with an increase to 33 GWh in the years later.
In March it announced plans to spend $4.1 billion in a joint venture with LG Energy Solution of South Korea to build one of them in Windsor, Ontario. That plant will employ about 2,500 people.
The Associated Press contributed to this story.
-
Former Indiana Women's Prison guard convicted of rape, sexual misconduct
A former corrections officer at the Indiana Women's Prison has been found guilty on multiple charges stemming from the sexual assault of an inmate just weeks before he left his position.
106-year-old downtown business Windsor Jewelry reopens with new ownership
Windsor Jewelry reopened its doors to the public with new ownership on Tuesday, after being on the brink of closing forever.
Bike lanes open on New York and Michigan Streets, making it easier to get around
More bike lanes are coming to Indianapolis, making it easier to get around the city. It's a step in the right direction, advocates said; they have been pushing for quite some time.
UPS worker killed in shooting on Indy's northwest side
On Tuesday, IMPD responded to the 5400 block of West 81st Street at around 9:55 p.m. Officers at the scene located a victim suffering from injuries consistent with gunshot wounds.
