Stellantis, Samsung SDI to build $3.2 billion EV battery plant in Indiana
Publishing timestamp: 2023-10-11 10:22:50
Summary
Samsung SDI and Stellantis plan to invest over $3.2 billion in a new electric vehicle battery plant in Kokomo, Indiana. This announcement comes during labor strikes and contract negotiations between Stellantis and the United Auto Workers union. The union sees EV battery jobs as crucial to its long-term viability. The new battery plant is the second to be planned in Kokomo through a joint venture between Stellantis and Samsung SDI. It is expected to create 2800 new jobs and begin production in early 2027.
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Keywords: autos, samsung sdi co ltd, business news, breaking news: business, stellantis nv, personnel, business, ford motor co, electric vehicles, general motors co, kokomo, transportation, labor economy,
Source: https://www.cnbc.com/2023/10/11/stellantis-samsung-sdi-to-build-ev-battery-plant-in-indiana.html