Lynas Rare Earths Shares Surge on Strong Half-Year Earnings and Rising Global Demand 
Coupang Reports Q4 Loss After Data Breach, Revenue Misses Estimates 
U.S. Stock Futures Fall as Nvidia Drops Despite Strong Earnings; Netflix Jumps 9% 
APEX Tech Acquisition Inc. Raises $111.97 Million in NYSE IPO Under Ticker TRADU 
Meta Signs Multi-Billion Dollar AI Chip Deal With Google to Power Next-Gen AI Models 
Pentagon Weighs Supply Chain Risk Designation for Anthropic Over Claude AI Use 
Nintendo Share Sale: MUFG and Bank of Kyoto to Sell Stakes in Strategic Unwinding 
Hyundai Motor Group to Invest $6.26 Billion in AI Data Center, Robotics and Renewable Energy Projects in South Korea 
OpenAI Pentagon AI Contract Adds Safeguards Amid Anthropic Dispute 
Gold Prices Rebound as U.S. Tariffs, Fed Policy and Iran Talks Drive Market Sentiment 
Oil Prices Steady as US-Iran Nuclear Talks and Rising Crude Inventories Shape Market Outlook 
Bank of Korea Holds Interest Rate at 2.50% as Growth Outlook Improves Amid AI Chip Boom 
BlueScope Steel Shares Drop After Rejecting Revised A$15 Billion Takeover Bid 
Snowflake Forecasts Strong Fiscal 2027 Revenue Growth as Enterprise AI Demand Surges 
Trump Media Weighs Truth Social Spin-Off Amid $6B Fusion Energy Pivot 
Samsung Electronics Stock Poised for $1 Trillion Valuation Amid AI and Memory Boom 
Trump Touts Stock Market Gains and 401(k) Boost Amid Tariff Uncertainty 
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
