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As the auto industry continuously shifts towards a more electrified approach of the market, more and more automakers will looks for ways to invest in the new age of automotive powertrains. The Hyundai Motor Group (HMG) is building a Metaplant in Georgia, and Stellantis entered into a joint venture with Samsung SDI to build a new battery-electric vehicle (BEV) battery facility in Indiana. Samsung SDI is even branching out to secure its own funding to build BEV battery facilities to become a major player in the industry as more automakers seek out its services. Even so, the joint venture (JV) between Stellantis and Samsung is going strong, announcing a second BEV battery plant, with both finding a home in Kokomo, Indiana.
This is quite the win for Indiana and the economy. The first BEV battery plant, already in construction, benefited from an investment of more than $2.5 billion. Stellantis claimed that it was willing to increase that investment up to $3.1 billion is the construction of the plant called for it. Well, with this second plant, it would seem that’s the case. Stellantis went straight to an investment of $3.2 billion, and will eventually build it right next to the first battery plant site. As for the economy, an estimate of 1,400 jobs opening at the second site. Construction should be underway within the next few years, said to start producing BEV batteries in 2027.
A second battery plant will also help Stellantis push towards its goals for annual production capacity. BEVs need a lot of power, and the goal for the first plant was an estimate of 23 gigawatt-hours (GWh), with the intention to eventually increase production capacity to 33 GWh once things are up and running. That alone can power 825,000 BEV units. Just think of what a second battery facility can do – the expected combined annual production capacity is estimated to be a total of 67 GWh. That’s enough to power 1,675,000 units!
“Our battery ecosystem is the foundation of our electrification strategy and our great partners Samsung SDI, the State of Indiana, and the City of Kokomo have created a compelling case for locating our sixth gigafactory in Kokomo…The BEVs coming to our North America brands play an important role in our drive to offer clean, safe and affordable mobility for all and achieve the bold goal of carbon net zero by 2038.” - Stellantis North America COO Mark Stewart
It would seem Stellantis is well underway on working towards its new Dare Forward 2030 electrification business strategy. Just about every major automaker has a BEV plan for the rest of the decade, but Stellantis has announced some pretty large goals. Expecting to produce at least 75 BEVs over the next five years alone, that’s a lot of brands that will be seeing a BEV or electrified version of popular models making up the lineup. We already know Dodge is ending the current Dodge Challenger and Dodge Charger to make way for eMuscle, starting with the Dodge Hornet R/T, we’ve seen electrified Jeep SUVs – like the Wrangler 4xe – and even Ram released its first all-electric pickup truck (1500 REV).
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