Stellantis Announces $155 Million Investment In Kokomo Plants

Stellantis has announced a $155 million investment in three plants located in Kokomo, Indiana, to produce new electric drive modules (EDM) for future electric vehicles (EVs) in North America. The Kokomo-built EDM will be integrated into vehicles designed on the STLA Large and STLA Frame platforms, with more than 25 battery-electric vehicles (BEVs) launches planned in the U.S. between now and 2030.

The EDM is an all-in-one solution for EV powertrains, consisting of three main components: the electric motor, power electronics, and transmission. The new EDM is optimized for efficiency and will help each platform achieve a driving range of up to 500 miles (800 kilometers).

The investment will be made at three plants: Indiana Transmission, Kokomo Transmission, and Kokomo Casting. More than 265 jobs will be retained across all three plants. Production is expected to start in Q3 2024, following retooling.

“While we continue our successful transition to a decarbonized future in our European operations, we are now setting those same foundational elements for the North American market,” said Carlos Tavares, Stellantis CEO. “By combining the benefits of the EDM with our new BEV-centric platforms and innovative battery technologies, we will offer our customers a variety of electric vehicles with unparalleled performance and range at more affordable prices. And with our in-house manufacturing capabilities and expertise, we will do it with greater flexibility and efficiency.”

“With more than 7,000 employees in Indiana, these investments will leverage the core manufacturing competencies of the local workforce in the areas of casting, machining and assembly, all of which will be needed even as the market transitions to an electrified future,” said Mark Stewart, Stellantis North America COO. “The city of Kokomo and the state of Indiana have been great partners for many years. This community will continue to play a central role in our efforts to provide safe, clean and affordable mobility solutions for our customers long into the future.”

Since 2020, Stellantis has invested nearly $3.3 billion in Indiana to support its transition to electrification, including recent announcements of a new engine for conventional and plug-in hybrid electric (PHEV) applications, a next-generation 8-speed transmission, and a gigafactory joint venture with Samsung SDI. These investments support Stellantis’ ambition to achieve net-zero carbon by 2038, as set out in its Dare Forward 2030 strategic plan.