Samsung and Stellantis, which is the parent company of Jeep, Chrysler, and Dodge has now selected the region of Kokomo in Indiana as the site for the new electric vehicle battery factory of Stellantis, which has been a leading electric vehicle battery manufacturing company. The companies has also made the announcement along with the Eric Holcomb, governor of Indian and also several other local officials in the region of Kokomo.
Mark Stewart, chief operating officer of Stellantis said, this new facility is going to be creating 1,400 new jobs and the cost of 2.5 billion dollars for the purpose to build the factory even though Stellantis and Samsung have been willing for spending around 3 billion dollars on the project, and the cost is going to be split between the two companies.
Stellantis is already operating a number of the facilities in the region of Kokomo, which is including the plants for the process of transmissions, casting and engines and the this addition of an Electric Vehicle battery factory is going to provide help in accelerating the push of the company for electrifying the wide lineups of the company.
This new production plant of the company, which is targeted to start the production in 2025 and is also going to have an initial annual production capacity of the 23 gigawatt hours along with an aim for increasing it to 33 gigawatt hours in the upcoming years.
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