Key Points:
- Samsung SDI and GM will build an EV battery plant in Indiana, starting in 2027.
- The plant will cost $3.5 billion and produce 36GWh of batteries annually.
- This is Samsung’s second major EV battery deal in the US, following a previous partnership with Stellantis.
Samsung SDI, the battery-making branch of Samsung, has teamed up with General Motors (GM) to create a new electric vehicle (EV) battery manufacturing plant in the United States. This agreement marks Samsung’s second significant partnership in the US for EV batteries, following a deal with Stellantis three years ago.
The new facility will be located in Indiana, and construction is set to begin soon, with production expected to start in 2027. Both companies will invest approximately $3.5 billion in this venture. The plant will have a yearly production capacity of 36GWh, making it a major player in the EV battery market.
The CEOs of Samsung and GM first discussed this collaboration seven months ago during a meeting in South Korea. GM’s CEO, Mary Barra, and top Samsung executives, including those from Samsung Display and Samsung Electro-Mechanics, were involved in these discussions.
General Motors, known for brands like Buick, Cadillac, and Chevrolet, was once the world’s largest carmaker. It currently ranks sixth globally, with over 5.84 million cars sold annually.
Choi Yoon-ho, CEO of Samsung SDI, emphasized that this new plant will strengthen their position in the US EV market and enhance their partnership with GM. Additionally, GM might source other components from Samsung, such as camera sensors and display panels.
Samsung SDI is also planning to build its own battery plant in the US, aiming to produce advanced solid-state batteries by 2027, which promise better performance and durability.
