StarPlus Energy LLC, a joint venture between Stellantis and Samsung SDI, has won a commitment for a $7.54 billion loan from the US government to establish two electric vehicle battery plants in Kokomo, Indiana.
The loan from the US government is anticipated to create approximately 2,800 new jobs at the plants, along with additional employment at a nearby parts park that supports the operations of Stellantis and Samsung SDI.
To finalize the loan, StarPlus Energy must engage with the Kokomo community and labor leaders, ensuring the development of good-paying jobs while meeting various technical, legal, environmental, and financial criteria.
Uncertainties loom over the project due to potential policy changes following Donald Trump's upcoming inauguration, with concerns about the future of government funding for initiatives like StarPlus Energy.
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