Stellantis and Samsung SDI announce second battery manufacturing facility in Kokomo

Amsterdam, Netherland- Stellantis N.V., an automotive manufacturer, and Samsung SDI co. Ltd., a battery and electronic materials manufacturer, announced that Kokomo, Indiana, will be the site for a second battery manufacturing facility in the United States as part of the StarPlus Energy joint venture. The new StarPlus Energy plant is expected to begin production in early 2027 with an annual capacity of 34 gigawatt hours (GWh). The joint venture company will invest over $3.2 billion (€2.8 billion) and create 1,400 new jobs in Kokomo and the surrounding areas. The total investment for both facilities will be over $6.3 billion (€5.5 billion) and create 2,800 total new jobs.

This will be Kokomo's second gigafactory for StarPlus Energy. The first StarPlus Energy gigafactory is now under construction and is expected to be operational by the first quarter of 2025 with a 33 GWh annual production capacity.

Mr. Mark Stewart, Stellantis COO North America, said that, Our electrification strategy is built on our battery ecosystem, and Kokomo, Indiana, the State of Indiana, and Samsung SDI have all made strong arguments for the location of our sixth gigafactory there. "The BEVs coming to our North American brands play a significant role in our drive to offer clean, safe, and affordable mobility for all while achieving the audacious goal of carbon net zero by 2038.

Mr. Yoon-ho Choi, President and CEO of Samsung SDI, said that, Samsung SDI will develop its largest EV battery production base in North America through the construction of the second battery factory of StarPlus Energy. We anticipate that Stellantis brand vehicles powered by Samsung SDI batteries with cutting-edge technologies would hasten the United States' shift to an electric vehicle era.

Mr. Eric Holcomb, Indiana Governor, said that, The economy of Indiana is booming. The financial investment, the number of new jobs produced, and the long-term effects of this joint venture on Kokomo and the state of Indiana will all be doubled as a result of Stellantis and Samsung SDI's pledge made today. With this choice, Indiana will play a leading role in the global economy of the future by driving innovation and development in the field of mobility.

Mr. Tyler Moore, Mayor of Kokomo, said that, We really appreciate Stellantis, Samsung SDI, and their joint venture StarPlus Energy for their ongoing support of and investments in our neighbourhood. The installation of this second battery facility will make Kokomo one of the biggest producers of electric vehicle batteries in North America and will demonstrate that the city is still at the forefront of cutting-edge automotive production.

By 2030, Stellantis intends to have a 100% passenger Vehicles battery electric vehicle (BEV) sales mix in Europe and a 50% passenger car and light-duty truck BEV sales mix in the US. This is part of the company's 2030 strategic strategy. The company is procuring about 400 GWh of battery capacity to meet these sales goals. By 2038, all scopes included, Stellantis is on target to become a carbon net zero corporation with a single-digit percentage compensation of leftover emissions.