MILAN, Feb 28 (Reuters) - Stellantis said on
Tuesday it will invest a total of $155 million in three plants
located in Kokomo, Indiana, to produce new electric drive
modules (EDM) that will be fitted in electric vehicles which the
carmaker will assemble in North America.
Production is expected to start in the third quarter of
2024, following retooling, the company said.
"With the investment, more than 265 jobs will be retained
across all three plants," it said.
Stellantis aims to have battery electric vehicles (BEV)
account for 50% of its sales in the U.S. by 2030. It has plans
for more than 25 BEV launches in the country by then.
The EDMs to be produced in Kokomo will be integrated into
vehicles designed on two of the new platforms the group will
launch, 'STLA Large' and 'STLA Frame', Stellantis said in a
statement.
Stellantis was created through the $52 billion merger of
Fiat Chrysler and Peugeot maker PSA in 2021.
(Reporting by Giulio Piovaccari; editing by Jason Neely)
