Stellantis and Samsung SDI will build a new U.S. battery plant in Indiana as the Chrysler-parent ramps up EV production plans.
Targeted to start operations in 2025, the plant aims to have an initial annual production capacity of 23 gigawatt hours, with an aim to increase to 33 GWh in the next few years.
The joint venture will create 1,400 new jobs and investment could gradually increase to up to $3.1 billion.