General Motors and Samsung SDI are expected to announce hat they plan to build a new joint venture battery manufacturing plant in the United States, sources told Reuters.
Reuters reported in January that GM and LG Energy Solution would not move forward with a fourth U.S. battery manufacturing plant. GM and LG Energy are building a $2.6 billion plant in Michigan, set to open in 2024, one of three joint venture Ultium Cells LLC plants.
The new GM Samsung SDI plant is expected to cost more than the Michigan battery plant, the sources said, but no location will be immediately announced. GM and Samsung SDI did not comment. In August, GM and LG Energy’s joint venture said it was considering a site in New Carlisle, Indiana, for a fourth U.S. battery plant. In January, Reuters reported that GM and a new partner could still pick that Indiana site for a battery plant.
GM said last year it expects to build 400,000 EVs in North America from 2022 through mid-2024 and increase capacity to 1 million units annually in North America in 2025. Sources said GM is considering whether it will eventually need at least two additional EV plants to meet future EV demand.
Source:batteryindustry
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