Samsung SDI has chosen Kokomo, Indiana as the location for its second US electric vehicle (EV) joint venture battery plant with Stellantis.
The JV, StarPlus Energy, is already building a Kokomo factory with capacity for 33GWh of batteries per year from early 2025. Samsung SDI has a 51% stake with Stellantis holding the rest.
The second plant is scheduled to be complete in 2027 with capacity of 34 GWh, giving the JV total capacity of 67 GWh per year or enough to power 1m EVs.
Samsung SDI said it will invest US$2bn in the factory, proportionate with its JV equity, and Stellantis will spend around US1.9bn.
The batteries will qualify for tax credits under the Inflation Reduction Act and will be sold mainly to Stellantis EV factories in North America.
