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The new plant is expected to reach mass production in 2027 and will make Samsung SDI EV batteries for upcoming GM vehicles.
Samsung and General Motors (GM) have finalised a joint venture to supply electric vehicle (EV) batteries in the US.
The two companies have agreed to invest roughly $3.5bn to build a new battery cell manufacturing plant, with the goal of reaching mass production in 2027. This facility is expected to manufacture 27GWh annually and rise to 36GWh after expansion plans.
The new plant will produce Samsung SDI prismatic batteries, which are expected to be deployed in upcoming GM electric vehicles. Through this joint venture, Samsung aims to gain a foothold in the North American EV market.
“Building on last year’s partnership with GM, we have established a premium battery production hub to lead the US EV market.” said Samsung SDI CEO Yoon-ho Choi. “Samsung SDI will make best efforts to support GM enhance its leadership in the EV market with the company’s Primx battery products featuring ‘Super Gap’ technology.”
The two companies reached an agreement in April 2023 to form this joint venture and have been finalising the details since then. The manufacturing facility will be located in New Carlisle, Indiana and is expected to create more than 1,600 jobs.
“The Samsung SDI joint venture is the latest example of GM’s commitment to driving innovation in America,” said GM chair and CEO Mary Barra. “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.”
But while Samsung and GM are moving forward with their EV battery venture, other companies are taking a more cautious approach. Volkswagen recently announced that it is scaling back its battery cell plant plans in Europe and North America due to a recent downturn in the EV market.
Earlier this year, the sale of EVs in Ireland fell year-on-year for the fourth time in seven months. Another report shows that EV sales fell by 25pc in the first half of 2024 compared to the same period in 2023.
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