Samsung SDI and Stellantis have announced a joint two-point-five billion dollar venture to build an electric-vehicle battery plant in Kokomo, Indiana.

According to the partnering companies, construction will begin this year with the goal of starting operation in 2025. The plant’s annual productivity capacity will initially be set at 23 gigawatt hours but will expand to 33 gigawatts hours in a few years.

The size of the investment could also increase to three-point-one billion dollars, the companies said, adding that the project will create one-thousand-400 jobs in and around Kokomo.

It will be the first battery plant in the U.S. for Stellantis, which became the world’s fourth largest automaker following a merger between Fiat Chrysler Automobiles and French automaker Peugeot S.A. The company plans to produce five million electric vehicles by 2030.

The announcement was made days after U.S. President Joe Biden visited Samsung’s chip plant in Pyeongtaek, South Korea, last week, where he revealed Samsung’s plan to create an electric vehicle battery-related joint venture in cooperation with the U.S. Department of Commerce.