Stellantis and Samsung SDI to build $2.5 billion EV battery plant in Indiana
The Jeep maker wants to achieve sales of 5 million electric vehicles by 2030.
Automaker Stellantis and Samsung SDI are teaming up to build a $2.5 billion EV battery plant in Indiana, reported CNBC. It’ll be the first US-based battery plant for Stellantis, which has an umbrella of 16 brands that include Jeep, Maserati, Dodge, Fiat and Chrysler. Construction on the lithium-ion battery manufacturing facility is set to begin later this year, with a projected launch date for the first quarter of 2025. This timing fits in nicely with Stellantis’ goal of selling 5 million EVs globally by 2030. The plant will be located in Kokomo, where the Chrysler parent company already has a supplier base.
Stellantis said the Kokomo facility will provide lithium-ion battery modules for a wide range of vehicles, including plug-in hybrids and full battery-electric vehicles. The timing makes sense, given the automaker’s ambitious electrification plans in both Europe and North America. As TechCrunch notes, Stellantis has been a pretty late arrival to the electric future. Currently the company only sells three plug-in hybrids — the Chrysler Pacifica Hybrid Minivan, the Jeep Wrangler 4xe and the Jeep Grand Cherokee 4xe. Stellantis has thrown a lot of time and money into changing that, with plans to offer more than 75 battery vehicle models by 2030.
We’re due for a number of new EV concepts from Stellantis in the next couple of years, including an electric Dodge muscle car, an all-electric Ram pick-up, a fully electric 4xe model in every Jeep SUV category and Chrysler’s 400-mile range electric SUV. All together, Stellantis has planned to invest $35.5 billion in electric vehicles by 2025. The automaker recently also teamed up with LG to build a $4.1 billion EV plant in Windsor, Ontario, which is projected to launch in 2024.
