Stellantis and Samsung SDI Celebrate Milestone in Kokomo Gigafactory Construction

Stellantis and Samsung SDI have reached a significant milestone in their joint venture electric vehicle (EV) battery manufacturing facility in Kokomo, Indiana. On March 22nd, 2023, the first piece of steel was raised, marking the start of the construction of the new Gigafactory. The occasion was celebrated with the signing of the first steel beam by members of the joint venture management team, Kokomo Mayor Tyler Moore, and other important guests.

The two companies announced the formation of their joint venture in May 2022, pledging to invest over $2.5 billion (€2.3 billion) in Kokomo and the surrounding areas and create 1,400 new jobs. The investment could gradually increase to $3.1 billion (€2.9 billion), providing a significant boost to the local economy.

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 a goal to increase to 33 GWh in the coming years. The new facility will supply battery modules for a range of vehicles produced at Stellantis’ North America assembly plants, helping to meet the growing demand for electric vehicles in the region.

The Kokomo Gigafactory is a crucial part of Stellantis’ broader strategy to electrify its vehicle lineup and reduce its carbon footprint. With the increasing shift towards sustainable energy, EVs are becoming more popular among consumers. By investing in this new facility, Stellantis aims to capitalize on this trend and remain competitive in the automotive industry.

The joint venture’s battery manufacturing facility in Kokomo will play a crucial role in advancing the development and adoption of EVs. As the world transitions towards sustainable energy, the demand for EVs is expected to continue to grow. Stellantis and Samsung SDI are well-positioned to capitalize on this trend and provide high-quality batteries to support the growing market for electric vehicles.

The construction of the Kokomo Gigafactory is a significant step forward for both Stellantis and Samsung SDI. With their investment in the new facility, the two companies are demonstrating their commitment to sustainability and innovation, while also supporting the local economy and creating new job opportunities. The completion of the Gigafactory in 2025 will mark a major achievement for the joint venture and a significant milestone for the future of EVs.