Stellantis Upgrades Kokomo, Indiana, Transmission-Casting Manufacturing Plants
The company will invest at its Indiana Transmission, Kokomo Transmission and Kokomo Casting plants to add and localize production of its new electric drive module, which includes the electric motor, power electronics and transmission, to provide an all-in-one solution for electric vehicle powertrains. Production is scheduled for the third quarter of 2024.
“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, COO of Stellantis North America. “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 Indiana Economic Development Corporation is working with Stellantis to finalize a performance-based incentive offer to support the company’s investment and job retention plans. The city of Kokomo will consider additional incentives.
“There is no better business environment than Indiana to invest and build products of the future,” noted Indiana Secretary of Commerce Brad Chambers. “Our state’s history in advanced manufacturing coupled with our talented workforce and focus on building a future-focused economy continues its unprecedented momentum with this latest investment. Industry innovators like Stellantis continue to choose Indiana for transformational projects because of our competitive business climate, manufacturing ecosystem and unparalleled infrastructure, in turn creating more opportunities for residents and communities across Indiana. We look forward to partnering with Stellantis to speed the global transition to electric vehicles and build the future of mobility right here in Indiana.”
Amsterdam-based Stellantis N.V. is a multinational automotive manufacturing corporation formed in 2021 on the basis of a 50–50 cross-border merger between the Italian-American conglomerate Fiat Chrysler Automobiles and the French PSA Group.
2023 Top States for Doing Business Meet the Needs of Site Selectors
2022 Top States for Doing Business Provide an Environment for Business Growth
Why the Southeast Is Winning EV Projects, With More on the Way
EV Impacts to Watch in 2023 and 2024
2023 Auto/Aero Site Guide
EV and Semiconductor Projects Stand Out in States Receiving Area Development’s 18th Annual Shovel Awards
Power-Intensive Site Selection
37th Annual Corporate Survey: Economic Pressures Exerting Greatest Effect on Decision-Makers