Samsung and Stellantis will invest more than $3.2 billion to build a new electric vehicle battery plant in Indiana, the companies announced Wednesday. The plant will open in early 2027 and create about 1,400 new jobs in Kokomo, about an hour north of Indianapolis. Under the banner of their joint venture, StarPlus Energy, the two companies already have a gigafactory being built in Kokomo; that facility’s set to open in 2025. Stellantis is hoping battery EVs will make up 100% of its sales in Europe and 50% of its U.S. sales by 2030.
- The transition to EVs is a central concern in the ongoing U.S. auto workers’ strike.
- However, more drivers seem to be choosing hybrids over fully electric vehicles, due to cost.