Stellantis and Samsung SDI to build $2.5 billion EV battery plant in Indiana

Automaker Stellantis and Samsung SDI are teaming as much as construct a $2.5 billion EV battery plant in Indiana, reported CNBC. It’s going to be the primary US-based battery plant for Stellantis, which has an umbrella of 16 manufacturers that embrace Jeep, Maserati, Dodge, Fiat and Chrysler. Development on the lithium-ion battery manufacturing facility is about to start later this yr, with a projected launch date for the primary quarter of 2025. This timing matches in properly with Stellantis’ objective of promoting 5 million EVs globally by 2030. The plant might be positioned in Kokomo, the place the Chrysler mum or dad firm already has a provider base.

Stellantis stated the Kokomo facility will present lithium-ion battery modules for a variety of automobiles, together with plug-in hybrids and full battery-electric automobiles. The timing is smart, given the automaker’s formidable electrification plans in each Europe and North America. As TechCrunch notes, Stellantis has been a fairly late arrival to the electrical future. Presently the corporate solely sells three plug-in hybrids — the Chrysler Pacifica Hybrid Minivan, the Jeep Wrangler 4xe and the Jeep Grand Cherokee 4xe. Stellantis has thrown a number of money and time into altering that, with plans to supply greater than 75 battery automobile fashions by 2030.

We’re due for numerous new EV ideas from Stellantis within the subsequent couple of years, together with an electrical Dodge muscle automotive, an all-electric Ram pick-up, a totally electrical 4xe mannequin in each Jeep SUV class and Chrysler’s 400- mile vary electrical SUV. All collectively, Stellantis has deliberate to speculate $35.5 billion in electrical automobiles by 2025. The automaker lately additionally teamed up with LG to construct a $4.1 billion EV plant in Windsor, Ontario, which is projected to launch in 2024.

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