Stellantis to invest USD 155 million in Indiana plants to support EV production.
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Stellantis to invest USD 155 million in Indiana plants to support EV production.

Stellantis will produce new electric drive modules (EDMs) that will be used in future electric vehicles in North America.

In a move to support the increasing demand for electric vehicles in North America, Stellantis has announced that it will be investing $155 million in three of its plants located in Kokomo, Indiana. The investment will be used to produce new electric drive modules (EDMs) that will be used in future electric vehicles assembled in the region.

With the aim of achieving 50% battery electric sales in the U.S. by 2030, Stellantis plans to launch more than 25 battery electric vehicles in the country over the next decade. The Kokomo-built EDM will be integrated into vehicles designed on the STLA Large and STLA Frame platforms, offering an all-in-one solution for electric vehicle powertrains.

The new EDM consists of three main components - the electric motor, power electronics, and transmission - that are combined into a single module to deliver improved performance and range at a competitive cost. The optimized efficiency of the new EDM will help each platform achieve a driving range of up to 500 miles (800 km), making them highly competitive in the market.

The investment in the Kokomo plants will not only help support the development of electric vehicles but also create new job opportunities in the region. The expansion is expected to create around 1,000 new jobs at the plants, bringing significant economic benefits to the area.

Stellantis will invest in the Indiana Transmission, Kokomo Transmission, and Kokomo Casting Plants. The gearbox cover will be cast at the Kokomo Casting Plant and then machined at the Kokomo Transmission Plant. Gear machining and final assembly will take place at the Indiana Transmission Plant. These investments will involve retooling and are expected to be completed by the third quarter of 2024, with production commencing shortly after.

Stellantis has been dedicated to supporting the transition to electrification in Indiana since 2020, with investments totaling nearly $3.3 billion. These investments include $643 million to produce a new engine for both conventional and PHEV applications, as well as a next-generation eight-speed transmission. Stellantis has also entered into a joint venture with Samsung SDI to build a gigafactory in the region.

Carlos Tavares, Stellantis CEO, said: While we continue our successful transition to a decarbonized future in our European operations, we are now setting those same foundational elements for the North American market. By combining the benefits of the EDM with our new BEV-centric platforms and innovative battery technologies, we will offer our customers a variety of electric vehicles with unparalleled performance and range at more affordable prices. And with our in-house manufacturing capabilities and expertise, we will do it with greater flexibility and efficiency.

Also Read: Polestar releases Q4 and full-year 2022 financial results.

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