South Korea’s Samsung SDI has finalized an agreement with General Motors to establish a joint electric vehicle (EV) battery factory in Indiana, USA. The companies will invest approximately $3.5 billion in a battery cell manufacturing plant with an initial production capacity of 27 gigawatt hours (GWh) annually.
Samsung SDI announced plans for mass production to begin in 2027, with potential capacity expansion to 36 GWh. The plant will manufacture prismatic battery cells, contributing to GM’s battery technology portfolio aimed at enhancing performance and reducing costs.
This joint venture was first revealed in April 2023, with an expected start of operations in 2026. The announcement comes as GM adjusts its EV production forecast due to shifting demand, now projecting up to 250,000 units in 2024, down from the previous estimate of 300,000 units.