Samsung SDI inks deal with GM for USD 3.5 billion EV battery factory in US: Report

The joint plant is targeting mass production in 2027 and the annual capacity is slated to increase to 36 GWh.

Autocar Professional BureauBy Autocar Professional Bureau calendar 28 Aug 2024 Views icon2731 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
Samsung SDI inks deal with GM for USD 3.5 billion EV battery factory in US: Report

Samsung SDI said it has inked a transaction with General Motors to jointly establish an EV factory in Indiana, United States, Reuters reported.

Both the firms will collectively invest USD 3.5 billion for a battery cell manufacturing plant with an initial annual production capacity of 26 GWh, SDI noted in a statement.

The joint plant is targeting mass production in 2027 and the annual capacity is slated to increase to 36 GWh, Reuters reported.

Kurt Kelty, GM vice president of battery cell and pack said that it would have the "capability to expand up to 36 GWh, building prismatic cells, which will be added to our battery technology portfolio, helping us to continue to increase performance and lower costs in the future," Reuters noted.

 

 

Tags: Samsung SDI
RELATED ARTICLES
Five Toyota Group companies to push the AI and software envelope

auther Autocar Professional Bureau calendar24 May 2025

The Toyota Software Academy, set up by Aisin, Denso, Toyota Tsusho, Toyota Motor Corporation, and Woven by Toyota, ims t...

BYD outsells Tesla for the first time in Europe in April

auther Autocar Professional Bureau calendar24 May 2025

With retail sales of 7,231 BEVs in Europe in April, BYD sold 66 more all-electric cars than Tesla, which registered 7,16...

Hyundai Motor Group showcases its prowess at World Hydrogen Summit 2025

auther Autocar Professional Bureau calendar22 May 2025

The Korean auto major has presented its hydrogen value chain and port decarbonization roadmap at the global meet in Rott...