Creating over 3,000 new jobs, two new electric vehicle battery factories are potentially coming to Kokomo, Indiana. Thanks to a loan commitment from the U.S. government, automaker Stellantis is partnering with Samsung SDI to help build the facilities.

While the loan funds still need to be finalized, which may or may not be done before President Biden leaves office, the government is committing about $7.5 billion to the project. Regardless of whether Donald Trump or Biden is in office, the Energy Department has stated the loan and project are essential for the country.

 

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US Pledges $7.5B Loan for Stellantis EV Battery Plants in Indiana – RetailWire