Hyperdrive
Samsung SDI, Stellantis Invest $2.5 Billion in US Battery Plant
- EV-battery factory will create 1,400 jobs in Kokomo, Indiana
- Project adds to $4.1 billion battery plant with LG in Canada
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Stellantis NV and South Korean battery maker Samsung SDI Co. will invest $2.5 billion to build a battery plant in Kokomo, Indiana, as the automaker speeds its shift to electric vehicles.
Samsung’s first US battery plant will have annual output of about 23 gigawatt hours when it opens in 2025 and eventually will raise that to 33 gigawatt hours, the companies said Tuesday. The project will create 1,400 new jobs in and around Kokomo, which already is home to Stellantis engine and transmission plants. The city is roughly halfway between the automaker’s vehicle-assembly plants in Illinois and Ohio.