Stellantis to invest 5M in Indiana for electric drive units

The maker of Jeep SUVs, Ram pickup trucks and other vehicles will invest a total of $155 million in three plants in Kokomo, Indiana, to produce electric drive modules for battery electric vehicles in North America. CEO Carlos Tavares announced the investment on Tuesday morning during CNBC's 'Squawk Box.' The EDMs include the electric motor, power electronics and transmission. Workers in Kokomo will combine them into a single package that Stellantis says improves performance, vehicle cost and range up to 500 miles.