US Department of Energy commits $7.54 billion loan for EV production in Kokomo

URLhttps://www.indystar.com/story/money/2024/12/03/u-
Sourceindystar.com
Date Published12/03/2024
Author NameAlysa Guffey

Additional Reshoring Information:

Company/Division name StarPlus Energy
Parent companyStellantis and Samsung SDI
Type of work Manufacturing
Reshoring category:Foreign Direct Investment
Total number of jobs (added or to be added):2800
Year reshoring announced:2024
Domestically, the work will be done:In-house
Capital investment ($):7540
Country(ies) from which reshored:Korea, South,Netherlands
City reshored to:Kokomo
State(s) reshored to:IN
If relevant, work nearshored to:-
Industry(ies):Electrical Equipment, Appliances & Components, Transportation Equipment
Product(s) reshoredlithium-ion batteries for EVs
What domestic positive factors made reshoring more attractive?Government Incentives, Govt. Policy and subsidies
Government Incentive dollar amount:$7.54 billion loan
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