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Samsung SDI and General Motors reaffirm their $3 billion joint venture plan this week to construct an electric vehicle (EV) battery plant in Indiana, a move anticipated to boost both EV infrastructure and job opportunities in the US.
The companies will set up the new EV battery production facility in the state of Indiana, and the target date for the start of operations there is within the year 2026. According to Business Korea, Samsung SDI and General Motors chose to build the factory in New Carlisle, and it will cover a land area of about 2.65 million square meters.
The partners are aiming to produce batteries for EVs, and the goal is 30-gigawatt hours (GWh) production capacity per year. Moreover, they will mostly make high-performance rectangular and cylindrical batteries made with high-nickel cathodes. These will be installed in the electric vehicle models that General Motors is building in the future.
The companies revealed that the building of the battery factory will commence in 2024 and will be completed in 2026. While the construction is ongoing, Samsung SDI and GM will generate 1,000 jobs, and once the operation starts, they are expected to employ about 1,700 workers.
The facility in New Carlisle in the County of Indiana is Samsung SDI's second battery factory in the U.S., and both are located in the same state. In partnership with Stellantis, it is also in the midst of constructing another similar facility worth $2.5 billion in the area of Kokomo.
"Through the establishment of a battery joint venture with GM, we are grateful that Samsung SDI can contribute to boosting the economy of Indiana and creating new jobs here," Korea Joongang Daily also quoted Samsung SDI's chief executive officer, Choi Yoon Ho, as saying in a statement. "Securing Indiana as a strong foothold together with GM, Samsung SDI will supply products featuring the highest level of safety and quality in a bid to help the U.S. move forward to an era of electric vehicles."
Photo by: Samsung SDI Newsroom
