Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
Rio Tinto Raises 2025 Copper Output Outlook as Oyu Tolgoi Expansion Accelerates 
BOJ Governor Ueda Highlights Uncertainty Over Future Interest Rate Hikes 
Proxy Advisors Urge Vote Against ANZ’s Executive Pay Report Amid Scandal Fallout 
GM Issues Recall for 2026 Chevrolet Silverado Trucks Over Missing Owner Manuals 
Airbus Faces Pressure After November Deliveries Dip Amid Industrial Setback 
Dollar Weakens Ahead of Expected Federal Reserve Rate Cut 
OpenAI Moves to Acquire Neptune as It Expands AI Training Capabilities 
Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
Netflix’s Bid for Warner Bros Discovery Aims to Cut Streaming Costs and Reshape the Industry 
Airline Loyalty Programs Face New Uncertainty as Visa–Mastercard Fee Settlement Evolves 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
Hikvision Challenges FCC Rule Tightening Restrictions on Chinese Telecom Equipment 
Visa to Move European Headquarters to London’s Canary Wharf 
Stellantis and Samsung SDI announced they are building a new plant for electric vehicle batteries. They also revealed the plans to invest more than $3.2 billion for the project.
This new EV battery manufacturing factory is Stellantis’ sixth facility worldwide. As per CNBC, the automaker’s announcement of its latest project with Samsung SDI was made on Wednesday, Oct. 12, shortly after making progress in labor negotiations with the United Auto Workers union led by the group’s president Shawn Fain.
Stellantis picks Indiana for the Plant Construction
For its battery joint venture with Samsung SDI, Stellantis selected Kokomo, Indiana, as the site for their factory. The firm said the facility will generate about 1,400 jobs for the locals, and full production of EV batteries is expected to begin in 2027.
Associated Press News reported that Indiana’s Kokomo City is located around 60 miles north of Indianapolis, and the Netherlands-headquartered vehicle manufacturer sees this location as the perfect choice for the project.
Moreover, the state of Indiana also offered incentives to Stellantis and Samsung SDI’s joint venture. The package includes up to $186.5 million in conditional tax credits, investments, and training grants.
Stellantis’ Second Battery Facility
This will be Stellantis' second battery plant proposal in the territory. The two facilities are projected to create a total of 2,800 new jobs.
“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,” Stellantis North America’s chief operating officer, Mark Stewart, said in a press release. “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.”
Samsung SDI’s president and CEO, Yoon Ho Choi, added, “Through the construction of the second battery plant of StarPlus Energy, Samsung SDI will be establishing its largest production base for electric vehicle batteries in North America. We expect Stellantis brand vehicles powered by Samsung SDI batteries featuring supreme technologies to contribute to accelerating the U.S. transition to an era of electric vehicles.”
Photo by: Stellantis Press Release
