GM and Samsung to Build Joint EV Battery Plant in US
GM and Samsung to Build Joint EV Battery Plant in US
GM and Samsung to Build , Joint EV Battery Plant in US.
GM and Samsung to Build , Joint EV Battery Plant in US.
General Motors and Samsung SDI made the announcement on April 25.
General Motors and Samsung SDI made the announcement on April 25.
They will invest over $3 billion in the joint venture, ABC News reports.
We will do our best to provide the products featuring the highest level of safety and quality produced with our unrivaled technologies to help GM strengthen its leadership in the EV market, Yoon-ho Choi, Samsung SDI President and CEO, via statement.
The new factory is expected to open in 2026 and create thousands of jobs, but its location has yet to be disclosed.
The announcement comes as South Korean President Yoon Suk Yeol is in America visiting with President Biden.
The U.S. and South Korea are commemorating "the 70th anniversary of their alliance," ABC News reports.
At full production, the new factory will reportedly push GM's battery cell capacity in the U.S. to approximately 160 gigawatt hours.
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GM previously made a pledge to only produce electric vehicles by 2035.
This will be GM's fourth joint venture for manufacturing battery cells.
The three others are with LG Energy Solution.
With multiple strong cell partners, we can scale our EV business faster than we could going it alone, Doug Parks, GM executive, via statement