According to a press release on the Stellantis' website, the company announced Tuesday that it is investing $155 million in total into three Indiana plants to "localize production of new electric drive module (EDM) in Kokomo."
The EDM will assist in powering future electric vehicles assembled in North America and support the objective of 50% of battery electric sales in the U.S. by 2030.
“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,” said Carlos Tavares, Stellantis CEO.
“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.”
“With more than 7,000 employees in Indiana, these investments will leverage the core manufacturing competencies of the local workforce in the areas of casting, machining and assembly, all of which will be needed even as the market transitions to an electrified future,” said Mark Stewart, Stellantis North America COO.
“The city of Kokomo and the state of Indiana have been great partners for many years. This community will continue to play a central role in our efforts to provide safe, clean and affordable mobility solutions for our customers long into the future.”
The press release reports that the investment will keep more more than 265 jobs across all three plants.
