Stellantis to Invest $155 Million in US to Produce New Electric Drive Modules

Stellantis to Invest $155 Million in US to Produce New Electric Drive Modules
Stellantis logo in an illustration taken on May 3, 2022. Dado Ruvic/Illustration/Reuters
Reuters
Updated:

MILAN—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.