Samsung & General Motors Put $30 Billion to Build Battery Factory

Published: Jun 20, 2023 16:43

Source: SMM

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It is reported that Samsung SDI and General Motors will invest $3 billion to build an EV battery factory with 30GWh capacity in Indiana, USA.

It is reported that Samsung SDI and General Motors will invest $3 billion to build an EV battery factory with 30GWh capacity in Indiana, USA. The plant will begin construction next year and is aimed to achieve mass production in 2026. In March 2023, the two companies cooperated for the first time, planning to build a joint venture, but not determine the site and other details yet. GM Chairman and CEO, Mary Barra, once said the batteries built together by both companies will help GM increase its annual capacity of EVs to more than 1 million in North America.

Meanwhile, Samsung SDI announced in May 2023 to establish a power battery plant with Stellantis, and the project site was also in Indiana, USA.

It is reported that the battery plant will be put into operation in 2025 Q1, with an initial capacity of 23GWh, which would increase to 33GWh in the next few years. According to statistics, Samsung SDI has a total of 47GWh production capacity as of 2022 and will achieve 62GWh production capacity in 2023, of which the cell production type is mainly square and cylindrical. By 2025, a total capacity of 100GWh is expected to achieve.

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