General Motors Company GM has finalized a joint venture (JV) with Samsung SDI, a South Korea-based battery and electronic materials manufacturer. Per the JV, which was initially announced a year ago, the companies are investing around $3.5 billion to construct an electric vehicle (EV) battery plant with an annual capacity of up to 36 gigawatt-hours in northern Indiana. However, due to slower-than-expected consumer adoption of EVs, the companies will delay battery cell production until 2027, after initially planning to start in 2025, later pushing it to 2026. The 2027 production start date reflects GM’s adjustments to align with its EV demand forecasts.
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General Motors & Samsung SDI to Invest $3.5B in US Battery Plant
GM and Samsung SDI are set to invest $3.5 billion to construct an EV battery plant with an annual capacity of up to 36 gigawatt-hours in northern Indiana.
