General Motors, Samsung SDI agree on $3.5 billion, 36 GWh EV battery cell plant in Indiana, USA

Samsung SDI and General Motors have finalized their agreement for a joint venture factory to supply electric vehicle (EV) batteries in the United States.

The joint venture plant will be located in New Carlisle, Indiana, on a 680-acre site, the companies said in a release. The two companies will invest approximately $3.5 billion to build the new battery cell manufacturing plant, which will initially sport annual production capacity of 27 GWh, rising to 36 GWh after expansion. 

The plant will produce NCA-based high-performance nickel-rich prismatic batteries, which are expected to be deployed in upcoming GM electric vehicles.

Mary Barra, Chair and CEO of GM, said in the release: "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." 

Yoon-ho Choi, CEO, Samsung SDI, commented: "[We] 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."

Samsung SDI claims its prismatic batteries improve driving range through high energy density, while enhancing safety with its llic exterior and venting system. "Through the joint venture with GM, Samsung SDI will gain a foothold in the North American EV market and strive to increase customers for its top-quality prismatic batteries with ensured safety," the company release said.

Samsung SDI and GM had reached an agreement in April last year to form an EV battery joint venture and since then, been working on finalizing key details. The signing ceremony took place at Samsung SDI's office in Seoul, and was attended by key executives from both companies.