What’s Happening: Stellantis, the multinational automotive manufacturer, is investing $155 million in three plants located in Kokomo, Indiana to produce new electric drive modules (EDMs). The EDMs will help power upcoming electric vehicles that will be assembled in North America, and support the automaker’s goal of achieving 50% battery-electric sales in the United States by 2030.
Why It Matters: Stellantis’ investment in the Kokomo plants will play a significant role in achieving its goal of reducing carbon emissions and transitioning to electrification. The EDMs will offer an all-in-one solution for electric vehicle powertrains, resulting in improved performance and range at a competitive cost. The optimized efficiency of the new EDM will also enable each platform to achieve driving range up to 500 miles (800 km), offering customers a variety of electric vehicles with unparalleled performance and range at more affordable prices.
- The Kokomo-built EDMs will be integrated into vehicles designed on the STLA Large and STLA Frame platforms.
- Investments will be made at the Indiana Transmission, Kokomo Transmission and Kokomo Casting plants.
- More than 265 jobs will be retained across all three plants.
- Production is expected to start in the third quarter of 2024, following retooling.
- Stellantis has invested nearly $3.3 billion in Indiana since 2020 to support its transition to electrification.
Bottom Line: Stellantis’ investment in the Kokomo plants is a significant step towards achieving its goal of reducing carbon emissions and transitioning to electrification. The EDMs will help power upcoming electric vehicles, providing customers with improved performance and range at a competitive cost. The investment will also retain jobs in the area and leverage the core manufacturing competencies of the local workforce in casting, machining, and assembly, which will be needed as the market transitions to an electrified future.