South Korean battery maker Samsung SDI has unveiled plans to build an electric vehicle battery plant in the U.S. with the European auto conglomerate Stellantis.
In a joint venture, they're going to build it in the city of Kokomo, Indiana, with construction to begin this year.
The facility will supply battery modules for vehicles produced at Stellantis’ North American assembly plants.
The target is to start operations in the first quarter of 2025 with an annual production capacity of 23 gigawatt hours.
That would increase to 33 gigawatt hours in the future.
The companies will initially invest a combined 2.5 billion U.S. dollars.
Stellantis says the new plant will create 14-hundred new jobs.