Samsung SDI, General Motors to build $3.5 bn joint venture EV battery plant in US

30 Aug 2024

Battery and electronic materials maker Samsung SDI on Wednesday announced the signing of a joint venture agreement with US auto maker General Motors for setting up a factory for the manufacture electric vehicle (EV) batteries.

The South Korean electronics giant said the two partners will invest around $3.5 billion to build a factory for making EV batteries with an initial production capacity of 27 gigawatt hours (GWh) a year.

The plant, to be located in New Carlisle, Indiana, in the US, with planned production capacity of 30 Gwh, will start operations in 2026.

The plant will start mass production of EV batteries by 2027, when production capacity will be expanded to 36 Gwh, Samsung stated in a media release.

Kurt Kelty, GM vice president of battery cell and pack, said the plant will be producing prismatic nickel cells, which will help GM to increase performance and lower costs over time.

Samsung SDI's prismatic batteries have high energy density which helps improve EV’s driving range while its llic exterior and venting system enhances safety, he added.

GM expects its 2024 EV production to reach a maximum 250,000 units against the earlier forecast of 300,000 units.

The Indiana plant will initially create over 1,600 jobs and with continued market-aligned expansion will enhance its contribution to the local economy, the statement added.