$2.5B Stellantis/Samsung SDI development to bring unprecedented opportunities
In September 2022, a two-year construction project will begin on the electric-vehicle battery plant on Kokomo’s far northeast side. Yates-CCC is the general contractor for this unprecedented building project. At its peak (January 2023-January 2024) the construction project will employ 2,000 workers.
One of the challenges during construction will be providing lunch to the large number of workers at the jobsite. The Greater Kokomo Economic Development Alliance is partnering with Yates-CCC to encourage local restaurant owners, food truck operators and other meal delivery providers to respond to a Request for Proposal seeking food vendors for the work site.
About the project:
Indiana Gov. Eric Holcomb addresses the audience gathered for the announcement.
On May 24 at Ivy Tech Kokomo, Stellantis N.V. and Samsung SDI announced that they had executed binding, definitive agreements to establish an electric-vehicle battery manufacturing facility in Kokomo. The plant aims to have an initial annual production capacity of 23 gigawatt hours (GWh), with an aim to increase to 33 GWh in the next few years. The total capacity would increase further as demand for Stellantis electric vehicles is expected to rise.
The joint venture company will invest over $2.5 billion and create 1,400 new jobs in Kokomo and the surrounding areas.
The investment could gradually increase up to $3.1 billion. The new facility will supply battery modules for a range of vehicles produced at Stellantis’ North American assembly plants. Plant construction activities are scheduled to begin later this year with production operations planned to launch in the first quarter of 2025.
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