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AMSTERDAM, 13 October 2023: Stellantis NV and Samsung SDI have revealed their strategic move to establish a second battery manufacturing facility in the United States, situated in Kokomo, Indiana. This development is part of the StarPlus Energy joint venture and signifies a substantial step toward electrification and clean mobility. The new facility, expected to commence production in early 2027, will significantly contribute to Stellantis’ electrification ambitions and the state of Indiana’s economic growth.
A Transformative Investment
The joint venture between Stellantis and Samsung SDI is poised to invest over USD 3.2bn (EURO 2.8bn) into the new StarPlus Energy plant in Kokomo. This sizeable investment is expected to create approximately 1,400 new jobs in Kokomo and its neighboring areas. Furthermore, this marks the second battery gigafactory in Kokomo, with construction already underway for the first facility, set to open in the first quarter of 2025 with an impressive annual production capacity of 33 gigawatt hours (GWh).
The Vision for a Greener Future
Stellantis is strongly committed to its electrification strategy, with a goal to achieve a 100% passenger car battery electric vehicle (BEV) sales mix in Europe and a 50% sales mix in the United States by 2030, in line with the Dare Forward 2030 strategic plan. To make this vision a reality, the company is securing approximately 400 GWh of battery capacity. These ambitious targets reflect Stellantis’ dedication to providing clean, safe, and affordable mobility while aiming to achieve carbon net zero status across all scopes by 2038.
Samsung SDI’s Significant Role
Yoon-ho Choi, President and CEO of Samsung SDI, highlighted the significance of the joint venture, stating, “Through construction of the second battery plant of StarPlus Energy, Samsung SDI will be establishing its largest production base for electric vehicle batteries in North America.” This endeavor is expected to contribute to expediting the transition to an era of electric vehicles in the United States, and it aligns with Stellantis’ broader electrification goals.
Indiana’s Economic Momentum
The impact of this joint venture extends beyond electrification. Indiana Governor Eric Holcomb commented, “Today’s commitment from Stellantis and Samsung SDI will double the capital investment, the new jobs created, and the impact this joint venture will have on Kokomo and the state of Indiana for decades to come.” The decision signifies Indiana’s role in leading tomorrow’s global economy and innovating the future of mobility.
Kokomo’s Advanced Automotive Manufacturing
Mayor Tyler Moore of Kokomo expressed gratitude for the continued commitment and investment in the community, noting that the addition of this second battery plant will solidify Kokomo’s position as a leading electric vehicle battery producer in North America. Kokomo remains at the forefront of advanced automotive manufacturing.
Conclusion
The establishment of the second StarPlus Energy gigafactory in Kokomo, Indiana, is a testament to the commitment of Stellantis and Samsung SDI in advancing the electrification of vehicles in the United States. This significant investment not only enhances economic growth in the region but also aligns with Stellantis’ ambitious goals to lead the charge toward clean and sustainable mobility.
