Automaker Stellantis plans to invest more than $2.5 billion in partnership with Samsung SDI to build the automaker’s first U.S. electric vehicle battery manufacturing facility.
The companies on Tuesday announced the new plant will be located in Kokomo, Indiana, where Stellantis already has a supplier base. The new facility is part of Stellantis’ goal to achieve annual sales of 5 million battery-electric vehicles by 2030.