MILAN (Reuters) – Stellantis stated on Tuesday it’s going to make investments a complete of $155 million in three vegetation positioned in Kokomo, Indiana, to supply new electrical drive modules (EDM) that might be fitted in electrical autos which the carmaker will assemble in North America.

Manufacturing is anticipated to start out within the third quarter of 2024, following retooling, the corporate stated.

“With the funding, greater than 265 jobs might be retained throughout all three vegetation,” it stated.

Stellantis goals to have battery electrical autos (BEV) account for 50% of its gross sales within the U.S. by 2030. It has plans for greater than 25 BEV launches within the nation by then.

The EDMs to be produced in Kokomo might be built-in into autos designed on two of the brand new platforms the group will launch, ‘STLA Massive’ and ‘STLA Body’, Stellantis stated in a press release.

Stellantis was created via the $52 billion merger of Fiat Chrysler and Peugeot (OTC:) maker PSA in 2021.