Stellantis To Invest $155 Million In U.S. To Produce New Electric Drive Modules
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)
Latest News
car&bike Team | Aug 8, 2026Bugatti Destrier Revealed As One-Off Bolide-Based Hypercar With 1,578 BhpBugatti has revealed the Destrier, a one-off based on the Bolide but with a completely different design brief.3 mins read
car&bike Team | Aug 8, 2026KTM 160 Duke, RC 160 Prices Hiked By Up To Rs 15,000KTM India has revised the prices of its entry-level motorcycles, with both the 160 Duke and RC 160 getting more expensive.1 min read
car&bike Team | Aug 8, 2026MG Majestor SUV Prices Hiked By Rs 1.50 LakhAfter the hike, prices for the Majestor now start at Rs 42.49 lakh (ex-showroom) for both 4x2 variants.2 mins read
car&bike Team | Aug 7, 20262026 Ducati Monster India Launch On August 10; Gets New 890cc EngineDucati is set to launch the 2026 Monster in India on August 10, bringing an updated design, new engine and revised electronics package to the premium streetfighter segment.1 min read
car&bike Team | Aug 7, 2026New Bajaj Pulsar 150 Spotted Ahead Of LaunchThe updates point to one of the biggest overhauls the nameplate has received in years.2 mins read
Jaiveer Mehra | Aug 7, 2026FADA Sales July 2026: Auto Sales Up By Over 25 Per Cent; Passenger Vehicle, Two-Wheelers Report Best-Ever Numbers For The MonthFADA reported sales across all segments stood at a new high for July - a first-ever.1 min read
Bilal Firfiray | Aug 1, 2026Toyota Hilux Review: The InvincibleMarking it as the ninth generation, the Hilux comes with a major cosmetic overhaul. But is it still relevant enough for the current times or is it getting too long in the tooth?5 mins read
Bilal Firfiray | Jul 30, 2026Kia Syros EV Review: Best EV To Buy Under Rs 20 Lakh?The Kia Syros EV comes into the game with a modern design, spacious cabin, strong performance, decent range and an aggressive pricing. But could it become the new benchmark under Rs 20 lakh?5 mins read
Jaiveer Mehra | Jul 27, 20262026 Maruti Suzuki Brezza Facelift Review: Bestseller Joins The Turbo ClubWhile Maruti’s facelifts have always tended to bring subtle updates over the outgoing models, the latest Brezza brings some heavy updates under the skin, including a new 6-speed manual gearbox and, for the first time, a turbocharged petrol engine option.1 min read
Bilal Firfiray | Jul 24, 2026Honda ZR-V Review: Who Is It For?Honda has brought the new ZR-V to India as their current flagship offering. It’s a CBU, it’s a hybrid, and it’s here for a limited few. Who is it for though?1 min read
Girish Karkera | Jul 29, 2026Mercedes-AMG E53 4MATIC+ PHEV First Drive Review: Just What The Doctor OrderedThere are luxury cars and there are high-performance cars. But what if you want both for the price of one? Mercedes-Benz has a recommendation that promises to tread a fine line between the two – the second generation E53 with a twist.7 mins read