Stellantis and Samsung SDI's Kokomo Gigafactory marks construction milestone

23 March 2023, 04:18:34

Stellantis and Samsung SDI marked a milestone today in the construction of their joint venture electric-vehicle battery manufacturing facility in Kokomo, Indiana, with the raising of the first piece of steel that will form the structure of the new gigafactory. The two companies announced the formation of the joint venture in May 2022, committing to invest more than $2.5 billion (€2.3 billion) and create 1,400 new jobs in Kokomo and the surrounding areas. The investment could gradually increase up to $3.1 billion (€2.9 billion). Targeted to launch in the first quarter of 2025, the plant 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. The new facility will supply battery modules for a range of vehicles produced at Stellantis’ North America assembly plants.

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