{"id":4988,"date":"2022-05-25T10:56:37","date_gmt":"2022-05-25T10:56:37","guid":{"rendered":"https:\/\/businessner.com\/?p=4988"},"modified":"2022-05-25T11:00:03","modified_gmt":"2022-05-25T11:00:03","slug":"stellantis-and-samsung-plans-building-2-5billion-ev-battery-plant","status":"publish","type":"post","link":"https:\/\/businessner.com\/stellantis-and-samsung-plans-building-2-5billion-ev-battery-plant\/","title":{"rendered":"Stellantis and Samsung Plans Building $2.5Billion EV Battery Plant in Indiana,USA"},"content":{"rendered":"
Global automaker Stellantis and tech giant Samsung recently announced<\/a> entering into a joint venture to establish a $2.25 billion electric-vehicle battery manufacturing facility in Kokomo, Indiana in the United States.<\/p>\n The car battery plant expected to commence in 2025 aims to have an initial annual production capacity of 23 gigawatt-hours (GWh), with an aim to increase to 33 GWh in the next few years.<\/p>\n The total capacity would increase further as demand for Stellantis electric vehicles is expected to rise.<\/p>\n The joint venture announced on Tuesday aims to help Stellantis reach its ambitious electrification targets by 2030 as it aims to create 1,400 new jobs in Kokomo and the surrounding areas. The investment could gradually increase to $3.1 billion (\u20ac2.9 billion) in the following years of operation.<\/p>\n The new manufacturing facility will supply battery modules for a range of vehicles produced at Stellantis\u2019 North American assembly plants. Plant construction activities are scheduled to begin later this year with production operations planned to launch in the first quarter of 2025.<\/p>\n The investment is important, especially for Samsung SDI, which has a chance to significantly expand its business in the U.S.<\/p>\n The joint venture was earlier announced in October 2021 as part of the multinational automotive company’s Dare Forward 2030 strategic plan to have global annual battery electric vehicle sales of five million vehicles by 2030, reaching 100% of passenger car BEV sales mix in Europe, and 50% passenger car and light-duty truck BEV sales mix in North America.<\/p>\n