US commits to $7.54 billion loan for Stellantis venture to build 2 electric vehicle battery plants

Category: Business

A Stellantis joint venture with Samsung SDI has secured a commitment from the U.S. Energy Department for a $7.54 billion loan to build two electric vehicle battery plants in Kokomo, Indiana, expected to create 2,800 jobs. The loan is contingent on meeting various conditions, and the plants will produce enough batteries for 670,000 vehicles annually, enhancing North America's EV battery manufacturing capacity.

Keywords: Stellantis, Samsung SDI, electric vehicle battery plants

Source: ABC News

Update At: 12/3/2024

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