Stellantis, Samsung SDI Announce Kokomo, Indiana, as Site for Second US StarPlus Energy Gigafactory

October 11, 2023 , Amsterdam -  Stellantis N.V. and Samsung SDI today announced that Kokomo, Indiana, will be the site for a second battery manufacturing facility in the United States as part of the StarPlus Energy joint venture. The new StarPlus Energy plant is expected to begin production in early 2027 with an annual capacity of 34 gigawatt hours (GWh). The joint venture company will invest more than $3.2 billion (€2.8 billion) and create 1,400 new jobs in Kokomo and the surrounding areas. The total investment for both facilities will be more than $6.3 billion (€5.5 billion) and create 2,800 total new jobs.

This will be the second StarPlus Energy gigafactory in Kokomo. Construction is already underway on the first StarPlus Energy gigafactory, which is on track to open by the first quarter of 2025 with an annual production capacity of 33 GWh.

“Our battery ecosystem is the foundation of our electrification strategy, and our great partners Samsung SDI, the state of Indiana and the city of Kokomo have created a compelling case for locating our sixth gigafactory in Kokomo,” said Mark Stewart, Stellantis COO North America. “The BEVs coming to our North America brands play an important role in our drive to offer clean, safe and affordable mobility for all and achieve the bold goal of carbon net zero by 2038.”

“Through construction of the second battery plant of StarPlus Energy, Samsung SDI will be establishing its largest production base for electric-vehicle batteries in North America,” said Yoon-ho Choi, president and CEO of Samsung SDI. “We expect Stellantis brand vehicles powered by Samsung SDI batteries, featuring supreme technologies, to contribute to accelerating the U.S. transition to an era of electric vehicles.”

“Indiana’s economy is on a roll,” said Indiana Governor Eric Holcomb. “Today’s commitment from Stellantis and Samsung SDI will double the capital investment, the new jobs created, and the impact this joint venture will have on Kokomo and the state of Indiana for decades to come. This decision puts Hoosiers squarely at the center of innovating and developing the future of mobility, catalyzing Indiana’s leadership position in tomorrow’s global economy.” 

“We would like to extend our sincere gratitude to Stellantis, Samsung SDI, and their joint-venture StarPlus Energy for their continued commitment and investment in our community,” said Kokomo Mayor Tyler Moore. “The addition of this second battery plant will solidify Kokomo as one of the largest electric-vehicle battery producers in North America and shows that Kokomo continues to remain on the cutting edge of advanced automotive manufacturing.”

As part of the Dare Forward 2030 strategic plan, Stellantis announced plans of reaching a 100% passenger-car battery-electric vehicle (BEV) sales mix in Europe and 50% passenger-car and light-duty truck BEV sales mix in the United States by 2030. To achieve these sales targets, the company is securing approximately 400 GWh of battery capacity. Stellantis is on track to become a carbon net zero corporation by 2038, all scopes included, with single-digit percentage compensation of remaining emissions.

Stellantis
Stellantis N.V. (NYSE: STLA / Euronext Milan: STLAM / Euronext Paris: STLAP) is one of the world’s leading automakers and a mobility provider. Its storied and iconic brands embody the passion of their visionary founders and today’s customers in their innovative products and services, including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep®, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys. Powered by our diversity, we lead the way the world moves – aspiring to become the greatest sustainable mobility tech company, not the biggest, while creating added value for all stakeholders as well as the communities in which it operates. For more information, visit www.stellantis.com.

Samsung SDI
Samsung SDI, headquartered in the Republic of Korea, is a world-leading battery and electronic material manufacturer redefining the worlds of electric vehicles, energy storage systems and IT devices. The company drives transformation and innovation to emerge as a ‘Creative Energy and Materials Solution Leader’ across the fields of e-mobility, energy solutions, as well as semiconductors and displays. The company commits to sourcing 100% renewable electricity across its entire global operations by 2050. For the latest news, please visit the Samsung SDI News at https://www.samsungsdi.com/sdi-news/list.html.

STELLANTIS FORWARD-LOOKING STATEMENTS
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