Samsung SDI recently announced that it has finalized an agreement with General Motors to establish a joint venture to supply electric vehicle (EV) batteries in the United States. Through the partnership, the two companies will invest around $3.5 billion to build a new battery cell manufacturing plant with an annual production capacity of 27GWh initially, targeting mass production in 2027. The annual capacity will likely rise to 36GWh under upcoming expansion plans.
EV battery plant to add 1,600 jobs
Samsung SDI reached an agreement with General Motors in April last year to form an EV battery joint venture and has since been working on finalizing key details. The EV battery plant will be located in New Carlisle, Indiana, on a 680-acre site and is expected to add more than 1,600 jobs, supporting the local economy.
“Building on last year’s partnership with GM, the No. 1 automaker in North America, we have established a premium battery production hub to lead the U.S. EV market,” said Samsung SDI CEO Yoon-ho Choi.
The new plant will produce NCA-based high-performance nickel-rich prismatic batteries, which General Motors will deploy in its upcoming EVs.
“The EV market and GM sales will continue to grow as more customers experience our EVs, the charging infrastructure builds out and we expand into more segments,” stated GM chair and CEO Mary Barra.
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North America EV market expansion
Through the joint venture with General Motors, Samsung SDI will gain a foothold in the North American EV market. Moreover, it seeks to increase customers for its top-quality prismatic batteries with ensured safety.
The agreement aligns with both companies’ commitment to the growth of the EV market. Both companies have been closely monitoring the rapidly changing market conditions and have decided to invest in the joint venture to keep up with the market pace. The two companies said they will continue expanding their strategic partnership.
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