Stellantis to invest $155 million for North American Electrification goals
Stellantis has announced that it will invest a total of $155 million in three facilities located in Kokomo, Indiana, US to produce new electric drive modules (EDM) that will help power future electric vehicles assembled in North America and support the goal of 50 percent battery electric sales in the U.S. by 2030.
The automaker has more than 25 battery electric vehicle (BEV) launches planned in the U.S. between now and 2030. The Kokomo-built EDM will be integrated into vehicles designed on the STLA Large and STLA Frame platforms.
Offering an all-in-one solution for electric vehicle powertrains, the EDM consists of three main components – the electric motor, power electronics and transmission – that are combined into a single module to deliver improved performance and range at a competitive cost. The optimized efficiency of the new EDM will help each platform achieve driving range up to 500 miles (800 km).
"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", he added.
Since 2020, Stellantis has invested nearly $3.3 billion in Indiana to support its transition to electrification. This includes recent announcements of $643 million to produce a new engine for conventional and PHEV applications, a next generation eight-speed transmission and a gigafactory joint venture with Samsung SDI.