In a significant move for the electric vehicle (EV) industry, automaker Stellantis and Samsung SDI have revealed plans to invest over $3.2 billion in a cutting-edge EV battery plant in Kokomo, Indiana. This strategic initiative marks the companies’ second collaboration in the state and is anticipated to commence operations in early 2027. The plant, a testament to the surging demand for EVs, will boast an impressive annual production capacity of 34 gigawatt hours (GWh) and is set is set to create a total of 2,800 new jobs, making a substantial contribution to the region’s employment landscape.
Stellantis, a frontrunner in the global automotive landscape, is on track to invest more than $30 billion in electric vehicles and batteries across North America by 2025. As part of this ambitious plan, the company aims to ensure that 50% of its regional sales originate from EVs by 2030. This massive investment not only bolsters the local economy but also underscores the pivotal role Indiana plays in the burgeoning EV battery industry in the United States.
This announcement comes against the backdrop of ongoing labor disputes between Stellantis and the United Auto Workers (UAW) union in the U.S., led by UAW President Shawn Fain, a native of Kokomo. Battery plants have become a focal point in these discussions, with the UAW recognizing the vital importance of EV battery jobs for its long-term viability. Stellantis’ decision to include workers at its EV battery plant in the national union contract has been hailed as a game-changing victory by Fain, who expects similar agreements from other major players like Ford Motor.
Mark Stewart, Stellantis COO North America, lauded the partnership stating, “Our battery ecosystem is the foundation of our electrification strategy and our great partners Samsung SDI, the State of Indiana, and the City of Kokomo have created a compelling case for locating our sixth gigafactory in Kokomo.”
With this monumental investment, Kokomo stands at the forefront of the clean energy revolution, heralding a greener, more sustainable future for the automotive industry.