The $3.2 billion joint venture plant with South Korea’s Samsung SDI is to start production early in 2027.
Jeep maker Stellantis says it will build a second electric vehicle battery factory in Kokomo, Indiana, that will create 1,400 new jobs. Construction already is underway on the companies’ first joint venture factory in Kokomo, which is scheduled to open early in 2025. That $3.1 billion plant announced in May of 2022 also is expected to create about 1,400 new jobs.
Indiana offered an incentive package of up to about $186.5 million in conditional tax credits, training grants and investments for the first Kokomo battery factory. The money would offset the costs of the plant’s infrastructure, the Indiana Economic Development Corporation said.
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