StarPlus Energy invests $2.5B for lithium-ion battery plant in Kokomo
Kokomo, Indiana, will be the site of Stellantis’ and Samsung SDI’s first North American electric vehicle battery manufacturing plant. The first plant of its kind in Indiana, the multimillion-square-foot facility will further cement Kokomo as one of the top auto manufacturing cities in the nation as the auto industry moves toward an electric future.
Through a joint venture called StarPlus Energy, Stellantis and Samsung SDI are investing more than $2.5 billion to construct the lithium-ion battery production plant in Kokomo and will create 1,400 new jobs.
The new facility will supply battery modules for various vehicles produced at Stellantis’ North American assembly plants. It will support Stellantis’ new strategic plan, Dare Forward 2030, which calls for all of its passenger car sales in Europe and 50% of passenger car and light truck sales in the U.S. to be battery electric vehicles by the end of the decade.
As part of Dare Forward 2030, Stellantis has set a target of 5 million annual electric vehicle sales by 2030. Stellantis has also increased its planned battery capacity by 140 GWh to approximately 400 GWh, to be supported by five battery manufacturing plants together with additional supply contracts.