by Jeff L. Tucker, The Chicago Times
May 24, 2022
AMSTERDAM – Stellantis, parent company of Chrysler, announces partnership with Samsung SDI to build electric vehicle battery plant in the North America.
On Tuesday, Stellantis and Samsung agreed to a $2.5 billion joint investment that is estimated to create 1,400 new jobs in Kokomo, Indiana, where the EV battery plant will be constructed.
When the new EV battery plant is completed in 2025, it is expected to supply battery modules for several Jeep, Chrysler and Dodge models assembled in North America.
Stellantis, like its European products, takes pride in being the fourth-largest automaker in the world. In 2021, Stellantis merged with Fiat Chrysler Automobiles and French PSA Group.
“Just under one year ago, we committed to an aggressive electrification strategy anchored by five gigafactories between Europe and North America. Today’s announcement further solidifies our global battery production footprint and demonstrates Stellantis’ drive toward a decarbonized future outlined in ‘Dare Forward 2030.'” Carlos Tavares, CEO of Stellantis said in a statement.