GM and Samsung SDI plan to build a new battery plant in the US

GM and Samsung SDI plan to build a new battery plant in the US

Jakarta (ANTARA) – General Motors Co and Samsung SDI are expected to announce as soon as possible, possibly on Tuesday, that they plan to build a new joint venture battery factory in the United States, sources quoted by Reuters said on Monday (24). /4).

In January, Reuters reported that GM and LG Energy Solution would not proceed with construction of a fourth battery manufacturing plant in the United States.

GM and LG Energy Solutions are building a $2.6 billion plant in Michigan expected to open in 2024, one of three joint ventures for Ultium Cells LLC.

GM’s new Samsung SDI plant is expected to be more expensive than the Michigan battery plant, the sources said, however, the location has not yet been announced. GM and Samsung SDI did not comment.

“GM and LG Energy Solutions have agreed to establish three battery joint ventures in the United States, and there is also the possibility of more than one battery joint venture with GM in the United States to meet GM’s needs for batteries for electric vehicles and electric purposes,” it said. Samsung source. SDI, who wished to remain anonymous, is not authorized to speak to the media.

Also read: Stellantis, Samsung SDI to build battery plant in Indiana

The source added that the two companies are considering several battery joint ventures in North America.

In August, GM and LG Energy Solution’s joint venture said it was considering a site in New Carlisle, Indiana, for its fourth US battery plant.

In January, Reuters reported that GM and new partners could still choose the Indiana location for the battery plant.

GM said last year that it expects to produce 400,000 electric vehicles in North America from 2022 to mid-2024 and increase capacity to 1 million units a year in North America by 2025.

Sources say that GM is considering whether they will need at least two additional electric car plants in the future to meet demand for electric cars.

South Korean media reported on the possible announcement of Samsung SDI GM in early March.

In May 2022, Stellantis NV and Samsung SDI announced that they will invest more than $2.5 billion to build a new joint venture battery plant in Kokomo, Indiana.

Stellantis and LG Energy Solution said in 2022 they will invest 4.1 billion dollars for a joint battery factory in Canada.

In 2022, US President Joe Biden during Samsung’s visit to South Korea encouraged the companies to “enter into partnerships” with “members of the United States” and said the partnership “to make batteries for electric cars will be strong and connected.” collective bargaining” with American labor unions.

Read also: Turkey to build a new car battery factory in joint venture with China

Also read: Ford to announce Rp 53 trillion battery plant in Michigan

Also read: LGES joins forces with Ford and Koc for EV battery plant in Turkey

Translator: Fathur Rochman
Editor: Natisha Andarningtyas