Home » Latest News » Green & EV » General Motors, Samsung SDI Plan $3B Battery Plant In US

General Motors, Samsung SDI Plan $3B Battery Plant In US

General Motors, Samsung SDI Plan $3B Battery Plant In US

On Tuesday, General Motors and Samsung SDI of South Korea announced that they would spend more than $3 billion to construct a new battery cell manufacturing plant in the United States.

The firm claimed in a statement that the new factory will open in 2026, but they did not specify where in the world that would be.

Battle Approved Motors. Invest Today!!
Get a $250 Amazon Gift Card. Apply Today!

The facility is anticipated to produce nickel-rich prismatic and cylindrical cells, and GM and Samsung SDI want to manage it jointly.

This is GM’s fourth collaborative effort to build a facility to produce battery cells. It has announced three more with LG Energy Solution of South Korea. The firms estimate that at full production, the new factory will have a capacity of more than 30 GWh, bringing GM’s total U.S. battery cell capacity to around 160 GWh.

South Korean President Yoon Suk Yeol is in the United States at the time of the announcement. The two nations held a conference to celebrate 70 years of relationship with announcements of increased nuclear deterrence, cyber security, and other areas of collaboration.

After a fire broke out in a batch of LG-made batteries for the Chevrolet Bolt, prompting General Motors to recall 142,000 vehicles, Samsung was chosen as the fourth plant’s partner. GM estimates that the recall cost them $1.9 billion and that LG has reimbursed them for that amount.

GM Plans to Sell Electric Cars in the Future

“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,” said Samsung SDI President and CEO Yoon-ho Choi in a statement.

By 2035, General Motors plans to sell nothing except electric cars. It has announced that six of its current or forthcoming electric vehicles would be eligible for the full $7,500 U.S. federal EV tax credit as a result of its massive investment in battery factories and a North American EV supply chain. These include the Chevy Bolt and Bolt SUV, the Silverado EV pickup, the Cadillac Lyriq SUV, and the upcoming Chevy Blazer and Equinox EVs.

To be eligible for the full tax credit offered by the United States, electric vehicles must be constructed in North America and a minimum percentage of their battery parts and minerals must be sourced from North America or a U.S. free trade partner.

Unionization efforts at the Ohio battery plant have been successful, with a majority of workers voting to join the United Auto Workers union. Workers who currently make engines and gearboxes for internal combustion vehicles have been warned by union officials that they would need a new line of employment when the production of these vehicles is eventually phased out.

Vehicles that run on petrol have fewer moving parts (by 30% to 40%) and may be assembled in around 30% less time.


Does General Motors have Electric Cars?

These are some popular EV car models created by General Motors and its subsidiaries.

1. GMC Sierra EV Denali
2. Cadillac CELESTIQ
3. Chevrolet Equinox EV
4. Chevrolet Blazer EV
7. Cadillac LYRIQ
8. Chevrolet Silverado EV
9. Cruise Origin

About Davie Bancroft

Davie Bancroft is an accomplished author with a strong focus on investment and the tech business landscape. With extensive knowledge and experience in these fields, he provides valuable insights into emerging trends and opportunities. Davie's writings explore the intersection of technology and finance, offering practical advice for investors and entrepreneurs. His expertise and analytical approach make him a trusted resource for those seeking to navigate the dynamic world of investments and tech startups.