Department of Energy Plans $7.54 Billion Loan for Stellantis–Samsung Battery Plants in Indiana

The loan will help fund StarPlus Energy’s construction of two battery factories in Kokomo, Indiana—enhancing U.S. EV production and creating thousands of jobs.

The Stellantis logo outside the Chrysler Technology Center, in Auburn Hills, Mich., on Jan. 19, 2021. Carlos Osorio/AP Photo

The U.S. Department of Energy (DOE) announced a conditional commitment for a loan of up to $7.54 billion to StarPlus Energy LLC, a joint venture between Stellantis N.V.’s subsidiary FCA US LLC and Samsung SDI Co. Ltd.

The loan aims to finance the construction of two lithium-ion battery cell and module manufacturing plants in Kokomo, Indiana, significantly boosting domestic electric vehicle (EV) battery production.