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.
-
Fernando Mendoza wins the Heisman Trophy as college football's top player
Fernando Mendoza, the quarterback of No. 1 Indiana, won the Heisman Trophy on Saturday night, becoming the first Hoosier to win college football’s most prestigious award since its inception in 1935.
Indiana State trooper struck, injured by alleged drunk driver on I-465
An Indiana State Trooper is recovering after his patrol car was rear-ended by an alleged drunk driver early Saturday morning while responding to a crash on I-465.
NFL: Philip Rivers to start Sunday for Colts against Seahawks
Philip Rivers will start as quarterback for the Indianapolis Colts on Sunday against the Seattle Seahawks, just five days after coming out of retirement.
$100K added in emergency assistance for Hoosiers living with HIV/AIDS
The Health Foundation of Greater Indianapolis is increasing its Direct Emergency Financial Assistance (DEFA) allocation, $100,000, raising the total funding for 2026 to $315,000.
