According to the confirmed plan, Samsung SDI and GM will invest about US $3.5 billion to build a factory, with an initial annual output of 27GWh, aiming to achieve mass production in 2027. The computing scale is expected to expand to 36GWh in the future.

Image source: Samsung SDI

on August 28, Samsung SDI and General Motors signed an agreement to jointly build a battery factory in Indiana, USA, and will invest 2.29 trillion won (converted to 12.2057 billion yuan), with an initial annual production capacity target of 27GWh.

Specifically, the two companies signed and established in March 2023. Electric vehicle battery the business agreement (MOU) of the joint venture has been discussing details such as site selection. According to the confirmed plan, Samsung SDI and GM will invest about US $3.5 billion to build a factory, with an initial annual output of 27GWh, aiming to achieve mass production in 2027. The computing scale is expected to expand to 36GWh in the future.

The location of the joint venture company has been identified as New Carlisle, Indiana, covering an area of 2.77 million square meters.

Samsung SDI-GM joint venture produces NCA-based high-performance high-nickel square batteries and will install them on electric vehicles released by GM in the future. Samsung SDI's square battery not only improves the driving distance through high energy density, but also is excellent in safety due to its metal shell and safety device (vent). Samsung SDI plans to establish a joint venture with GM to lay the foundation for expanding the market share of North American electric vehicles and increase the number of customers using Square batteries.

Samsung SDI said that the signing of the main contract was based on the increase in the electric vehicle market by the two companies.The confidence of long potential is achieved. The management of the two companies paid close attention to the rapidly changing market situation and confirmed the investment in the joint venture. In the future, the two companies plan to continue to expand strategic cooperation.