Day: May 31, 2022

Automakers are investing billions in batteries for EVs

Stellantis, the company in charge of US auto brands Jeep, Chrysler, Dodge, Ram, Fiat, and Alfa Romeo, announced on May 24 that it would be partnering with Samsung to build a new $2.5 billion electric vehicle battery manufacturing facility in Kokomo, Indiana. Stellantis has its sights set on selling five million battery-electric vehicles per year by 2030, and it is going to need a serious boost to achieve that goal; the international conglomerate doesn’t currently offer any electric vehicles for sale in the US. 

The location in Kokomo is centrally located for several of Stellantis’ midwest-based vehicle assembly plants, and in close proximity to the company’s supplier base. Construction is scheduled to begin later this year, with production capacity online by 2025. The company projects the new assembly plant will create around 1,400 new jobs, and will be operated as a joint venture alongside brand partner Samsung. 

“Just under one

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