Stellantis and Samsung will construct an electric vehicle battery plant in Kokomo, Indiana, according to a Stellantis press release on May 24.
Stellantis is an automotive company that owns Jeep and Ram and which is hoping to contribute to the electric vehicle movement. According to the New York Times, Stellantis is a product of a Fiat Chrysler and French carmaker Peugeot merger in 2021 and is headed by Carlos Tavares, the former chief executive of Peugeot.
Based on the article, Chrysler has had operations in Kokomo, and currently builds engines and transmissions in the city.
The article said that Indiana worked with Stellantis in terms of tax credits, educational grants and other incentives totaling $186.5 million to confirm the Kokomo plant.
According to the article, Tavares said last year that the company will invest $32 billion in electric vehicles by 2025 in order to compete with other companies.
Stellantis said in the article that they will begin to manufacture Jeep and Ram battery packs in 2025.
Samsung SDI will be using its PRiMX technology in producing electric vehicle battery cells and modules, said the Stellantis press release.
By 2030, Stellantis said, it hopes to sell five million electric vehicles —including electric models of a Dodge sports car and a Ram pickup truck.
Stellantis also hopes that all of its European sales and half of its North American sales will be based on electric vehicle purchases, the article said.