Samsung, Stellantis confirm Indiana EV battery plans

South Korean company Samsung SDI has confirmed plans to build a plant for the production of batteries and modules for electric vehicles (EV) worth $ 2.5 billion in Kokama in the US state of Indiana in a joint venture with Stellantis. Just Auto first reported yesterday until official confirmation.

The announcement was made at an event attended by Indiana Gov. Eric Holcomb, Kokama Mayor Tyler Moore, Samsung SDI President and CEO Yunho Choi and Stellantis CEO Carlos Tavares.

The JV will begin construction of the plant by the end of 2022, and commercial production is scheduled to begin in the first quarter of 2025, creating 1,400 jobs.

The facility will have an initial annual capacity of 23 gigawatt-hours (GWh) of battery cells and modules, which Stellantis expected to grow to 33 GWh in the next few years when total investment grows to 3.1 billion US dollars.

Indiana will become the center of electric transmission production for Stellantis, which already has a transmission plant in Kokoma.

The plant will produce batteries under the Samsung SDI PRiMX brand, which were launched late last year and presented at CES in Las Vegas last January.

Choi said in a statement: “We have provided a strong foothold in the fast-growing North American EV market through a joint venture with Stellantis.”

Tavares said: “Just less than a year ago, we committed to an aggressive electrification strategy enshrined in five gig factories between Europe and North America. Today’s announcement further strengthens our global battery production. “

Under its so-called Dare Forward 2030 plan, Stellantis aims to sell battery-powered electric vehicles (BEVs) of up to 5 million units a year by 2030, including all new passenger car sales in Europe and 50% of passenger car and light truck sales. in North America.

The automaker said it plans to have 400 GWh of annual battery production by 2030, divided between five battery plants around the world and under outsourcing contracts.