Stellantis and LG Energy Solution to Build Electric Vehicle Battery Plant in Indiana
Bloomington, Indiana
Stellantis and LG Energy Solution will invest $2.5 billion in a new electric vehicle battery plant in Indiana. The plant is expected to create 1,400 jobs and produce batteries for Stellantis' electric vehicles.
Stellantis, the parent company of Fiat Chrysler Automobiles, and LG Energy Solution announced the plans for the new plant on Wednesday. The plant will be located in Kokomo, Indiana, and is expected to be operational by 2025. The plant is expected to produce batteries for electric vehicles such as the Jeep Wrangler BEV, the Ram 1500 BEV, and the Chrysler Airflow.
The investment by Stellantis and LG Energy Solution is a sign of the growing demand for electric vehicles. Stellantis has pledged to invest $35 billion in electric vehicles and battery production by 2025. LG Energy Solution is one of the world's largest battery manufacturers, and the partnership with Stellantis will help the company expand its production capacity in the United States.
The new plant is expected to create 1,400 jobs in Indiana. The plant will also provide a boost to the local economy, as it is expected to generate $1 billion in annual economic activity.
The announcement of the new plant is a positive development for Stellantis and LG Energy Solution. The plant is expected to help Stellantis meet its electric vehicle production goals, and it will also help LG Energy Solution expand its production capacity in the United States.
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