Stellantis and Samsung SDI are building an EV battery factory
Stellantis wants to sell 5 million electric vehicles by 2030.
Stellantis and Samsung SDI are collaborating to establish a $ 2.5 billion electric vehicle battery facility in Indiana. Stellantis Corporation, which owns 16 brands including Jeep, Maserati, Dodge, Fiat, and Chrysler, will open its first battery manufacturing in the United States.
The construction of the lithium-ion battery plant is expected to start later this year. The grand opening is planned for the first quarter of 2025. This timeframe aligns with Stellantis' objective of selling 5 million electrified automobiles worldwide by 2030.
Stellantis already has a supplier base in Kokomo, where the plant will be built. Stellantis stated that the plant will manufacture lithium-ion battery modules for a variety of cars, including plug-in hybrids and completely electric automobiles.
Given Stellantis' huge aspirations for electrification in Europe and North America, satisfaction timing makes sense. Stellantis, according to TechCrunch, entered the electric future very late.
Currently, the business sells three plug-in hybrid models: the Chrysler Pacifica Hybrid Minivan, the Jeep Wrangler 4xe, and the Jeep Grand Cherokee 4xe.
Stellantis spent a significant amount of effort and money to develop the first EVs. However, the business intends to offer more than 75 electric vehicle models by 2030.
Stellantis will release several new electric vehicle models in the coming years, including an electric Dodge muscle car, an electric Ram pickup, a completely electric 4xe model in every Jeep SUV category, and Chrysler's electric SUV with a range of up to 644 kilometers.
By 2025, Stellantis intends to invest $35.5 billion in electric vehicles. The automaker recently partnered with LG to construct a $4.1 billion EV facility in Ontario, which is set to open in 2024.
