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StarPlus Kokomo

Kokomo, IN | Battery

Battery Executing $7.54B DOE
82
Risk Score (±4)*
*Margin reflects source timing variance
↑ +17 pts YTD
Last Reviewed: May 12, 2026
Reviewed May 12, 2026 Sources: Stellantis Samsung SDI DOE LPO
ON TRACK
Original Announcement: May 2022 | Original Target: Q1 2025 | Current Target: First plant opened December 2024 | Delay: Minimal on opening, significant ramp-up issues | 730 employees (target 1,400). August 2025 layoffs of 59 salaried workers due to slower ramp-up from EV market headwinds. $7.54B DOE ATVM loan finalized December 2024.
$6.3B+
Total Investment
Both plants
Verified: Jan 2026
$7.54B
DOE Loan
Dec 2024
Verified: Jan 2026
67 GWh
Combined Capacity
670K EVs/year
Verified: Jan 2026
2,800
Operations Jobs
Target
Verified: Jan 2026
Q1 2025
Plant 1 Start
Plant 2: 2027
Verified: Jan 2026

12-Month Risk Trend

Monthly scores calculated from weighted factor assessments. Historical data reflects month-end evaluations.

Risk Score Breakdown

Four equally-weighted factors. Workforce and power/grid constraints embedded within. Confidence interval reflects data recency and source reliability.

72
Timeline Adherence
incl. grid queue, permits
Weight: 25%
78
Funding Security
incl. power agreements
Weight: 25%
74
Construction Progress
incl. workforce avail.
Weight: 25%
72
Operator Stability
incl. utility relations
Weight: 25%

Score Change Log

Audit trail of risk score changes with rationale. Full derivation notes available upon request.

Date Old New Change Rationale
Jan 2026 -- -- -- Monthly review; see RAID log for details

Contact info@hccouncil.org for detailed factor-by-factor scoring derivation.

Key Risks

Investment Thesis

StarPlus Energy secured the largest DOE loan in program history ($7.54B) in December 2024. Plant 1 began production in early December 2024 with 33 GWh capacity; Plant 2 targets 2027 with 34 GWh additional. Total investment is $6.3B. However, August 2025 brought an 18% salaried workforce reduction (59 of 318 positions), and hundreds of hourly workers faced temporary layoffs. Workers voted to join the UAW in May 2025. Target employment is 2,800. (Sources: Stellantis Oct 2023; Fox59 Aug 2025; InkFreeNews Aug 2025)

SOURCES (Click to verify):
SEC Filings CHIPS.gov DOE LPO

RAID Log

Severity: HIGH Critical pathMEDIUM ManageableLOW Minor impact

Risk assessments reviewed monthly. Last review: Jan 9, 2026

R
Risks
RiskImpactProbabilityMitigation
Stellantis EV pullbackHIGHHIGHStellantis delaying EV timelines
JV partner coordinationMEDIUMMEDIUMSamsung SDI technology expertise
A
Actions
ActionOwnerDue DateStatus
Plant 1 production ramp (33 GWh)Operations2025ACTIVE
Plant 2 construction completionConstruction2027ACTIVE
UAW contract negotiationsHR/Legal2025-2026ACTIVE
I
Issues
IssueSeverityStatusResolution
Production timeline uncertaintyMEDIUMMONITORINGMatching Stellantis launches
D
Decisions
DecisionDateRationaleImpact
Kokomo site selection2022Existing Stellantis presence; workforce$3.2B Phase 1 investment
Samsung SDI partnership2022Korean battery expertiseJV structure for risk sharing

Upcoming Milestones

Dates from official company announcements and regulatory filings

COMPLETE AchievedCONFIRMED OfficialTARGET GuidancePROJECTED EstimateDELAYED Behind
H1
--
2026
Plant 1 Full Production Ramp
33 GWh annual capacity. Launched Q1 2025. $7.54B DOE loan finalized Dec 2024.
ON TRACK
Q1
--
2027
Plant 2 Production Start
34 GWh additional capacity. $3.2B investment. 1,400 new jobs.
CONFIRMED
Dec
31
2027
Combined 67 GWh Capacity
670,000 EVs/year. Samsung SDI largest North American production base.
TARGET
Dec
31
2030
Full Employment 2,800 Jobs
Total $6.3B investment. Supporting Stellantis 50% BEV sales mix goal.
TARGET