Stellantis &Samsung SDI have executed binding, definitive agreements to establish an electric-vehicle battery manufacturing facility in Kokomo in Indiana in US. Targeted to start 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 total capacity would increase further as demand for Stellantis electric vehicles is expected to rise.The joint venture company will invest over USD 2.5 billion and create 1,400 new jobs in Kokomo and the surrounding areas. The investment could gradually increase up to USD 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.At the Indiana factory, Samsung SDI will be applying its cutting-edge technology PRiMX to producing EV battery cells and modules for the North American market. Samsung has launched its premium battery technology brand PRiMX as an industry’s first last year and unveiled the brand at CES 2022 in January.