STELLANTIS, SAMSUNG ANNOUNCE EV BATTERY FACTORY

A joint venture between Stellantis and Samsung plans to build an electric vehicle battery factory in Indiana that will employ up to 1,400 workers and become the company’s second such factory in North America.

The venture announced Tuesday plans to spend more than $2.5 billion on the plant in Kokomo that will supply electric battery modules for a range of vehicles produced at Stellantis’ North American assembly plants.

Construction of the plant is expected to start later this year, with the facility expected to open in early 2025 in the city about 60 miles north of Indianapolis.

The venture’s investment in the plant could gradually increase up to $3.1 billion, Mark Stewart, the chief operating officer of Stellantis North America, said at the announcement at

•