VIAC

ViacomCBS Inc.

29.58
USD
-17.81%
29.58
USD
-17.81%
27.84 101.97
52 weeks
52 weeks

Mkt Cap 17.95B

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Stellantis, Samsung SDI to build $2.5 bln Indiana JV battery plant

WASHINGTON, May 24 (Reuters) - Stellantis NV STLA.MI and Samsung SDI 006400.KS said on Tuesday they will invest more than $2.5 billion to build a new joint venture battery plant in Kokomo, Indiana as the Chrysler-parent ramps up electric vehicle production plans. Targeted to start in 2025, the plant aims to have an initial annual production capacity of 23 gigawatt hours (GWh), with an aim to increase to 33 GWh in the next few years. The joint venture will create 1,400 new jobs and could gradually increase to up to $3.1 billion. (Reporting by David Shepardson Editing by Chris Reese) ((David.Shepardson@thomsonreuters.com; 2028988324;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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