Major US Carmaker Spends $2.5 Billion On US-Based Battery Plant

Multinational automotive group Stellantis has announced a joint venture with Samsung SDI to build an electric vehicle battery plant in the United States. The facility, which will be established in Indiana, is targeting a 2025 production start with an initial annual output of 23 gigawatt-hours (GWh). With demand for Stellantis-branded EVs expected to rise in the coming years, the facility will see an increase in the production of lithium-ion batteries.

建设预计在今年晚些时候开始d will see the creation of about 1,400 new jobs in the Kokomo region, along with $2.5 billion in investments from the joint venture. Battery modules produced at the new facility will be used in vehicles produced in North American Stellantis plants. Under the Dare Forward 2030 plan, the group is aiming for five million annual global sales of battery-powered vehicles.

"Just under one year ago, we committed to an aggressive electrification strategy anchored by five gigafactories between Europe and North America ... today's announcement further solidifies our global battery production footprint and demonstrates Stellantis' drive toward a decarbonized future as outlined in Dare Forward 2030," said CEO Carlos Tavares.

The company is investing heavily in battery plants. Plans are afoot for anotherlithium-ion battery facilityin Canada and, like the aforementioned facility, the Ontario-based factory will produce packs destined for North American market cars. Production is expected to kick off in 2024, a year before the American factory.

Currently, models such as theJeep Grand Cherokee 4xeshow the direction in which Stellantis is heading. Despite the sizeable exterior and impressive performance, the 5,325-lbs SUV can achieve 23 mpg on the combined cycle. For the American market, at least, this is only the beginning - we've already seen what afully-electric Jeep could look like.