Jeep Maker Stellantis to Invest $155 Million in EV Indiana Plants
February 28 2023 - 8:15AM
Dow Jones News
By Mauro Orru
Stellantis NV will invest $155 million in three Indiana plants
to produce new electric drive modules, part of the auto maker's
plans to have half of its U.S. sales be fully electric cars by the
end of the decade.
The company, formed by the combination of Fiat Chrysler and
Peugeot maker PSA Group, said Tuesday that the investment would be
made at the Indiana Transmission, Kokomo Transmission and Kokomo
Casting Plants, bringing its total investments in Indiana to nearly
$3.3 billion since 2020.
"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.
Stellantis expects production to start in the third quarter of
2024.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
February 28, 2023 08:00 ET (13:00 GMT)
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