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Stellantis and Samsung SDIís Kokomo Gigafactory Marks Construction Milestone

- First piece of steel raised

- Beam signed by joint venture management team and Kokomo mayor

- Companies announced investment commitment of $2.5 billion (Ä2.3 billion) in May 2022

- New electric-vehicle battery manufacturing facility to create 1,400 new jobs

- Expected to launch in first quarter of 2025


Kokomo, Ind. – WEBWIRE
Members of the Stellantis and Samsung SDI joint venture management team, along with Kokomo Mayor Tyler Moore (eighth from left) (see complete caption below)
Members of the Stellantis and Samsung SDI joint venture management team, along with Kokomo Mayor Tyler Moore (eighth from left) (see complete caption below)

Stellantis and Samsung SDI marked a milestone today in the construction of their joint venture electric-vehicle battery manufacturing facility in Kokomo, Indiana, with the raising of the first piece of steel that will form the structure of the new gigafactory.

Members of the JVís management team, Kokomo Mayor Tyler Moore, President/CEO of the Greater Kokomo Economic Development Alliance Lori Dukes and the groupís Economic Development Advisor Charlie Sparks, former Howard County Commissioner Paul Wyman and Senior Vice President Business Development with the Indiana Economic Development Corporation Brock Herr commemorated the occasion by signing the first steel beam.

The two companies announced the formation of the joint venture in May 2022, committing to invest more than $2.5 billion (Ä2.3 billion) and create 1,400 new jobs in Kokomo and the surrounding areas. The investment could gradually increase up to $3.1 billion (Ä2.9 billion).

Targeted to launch in the first quarter of 2025, the plant aims to have an initial annual production capacity of 23 gigawatt-hours (GWh), with an aim to increase to 33 GWh in the next few years. The new facility will supply battery modules for a range of vehicles produced at Stellantisí North America assembly plants.†

IMAGE CAPTION:

Members of the Stellantis and Samsung SDI joint venture management team, along with Kokomo Mayor Tyler Moore (eighth from left) and other guests, signed the first steel beam before it was raised into place, marking a milestone in the construction of their electric-vehicle battery manufacturing facility in Kokomo, Indiana. The two companies announced the formation of the joint venture in May 2022, committing to invest more than $2.5 billion (Ä2.3 billion) and create 1,400 new jobs in Kokomo and the surrounding areas. The investment could gradually increase up to $3.1 billion (Ä2.9 billion).


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