GM: battery project with Samsung SDI formalized

(CercleFinance.com) - South Korea's Samsung SDI announced on Wednesday that it had finalized the terms of its battery joint venture project with GM, which was initially presented last year.


In a press release, the advanced materials manufacturer states that it will invest, alongside GM, some $3.5 billion in the construction of a battery production plant for electric vehicles in New Carlisle (Indiana).

At an official ceremony held today in Seoul, the two partners said that the 275-hectare site would create over 1,600 jobs.

The plant, which is due to start operating at full capacity in 2027, will have an initial annual production capacity of 27 gigawatt-hours (GWh), which could be increased to 36 GWh as the site develops.

In April 2023, Samsung SDI and GM said they had agreed to set up a joint venture in this field, but the details of their cooperation were still to be determined.

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