Gold Prices Steady Ahead of Trump-Xi Meeting as Inflation and Oil Concerns Persist 
BOJ Rate Hike Expectations Grow as Board Member Signals Hawkish Stance 
US, Japan Reaffirm Strong Currency Coordination Amid Yen Volatility 
Alphabet Raises Record $3.6 Billion in Yen Bonds to Support AI Expansion 
Samsung Shares Drop as Labor Union Confirms Planned Strike 
DOJ May Drop Gautam Adani Fraud Charges Amid $10 Billion U.S. Investment Plan 
Gold Prices Hold Steady as Investors Monitor U.S.-Iran Tensions and Trump-Xi Summit 
Anthropic Eyes $300M Stainless Acquisition Amid Enterprise AI Expansion 
Trump and Xi Temple of Heaven Visit Highlights Trade and Diplomacy Goals 
Applied Materials Forecasts Strong Q3 Revenue as AI Chip Demand Accelerates 
US-China Trade Talks Sideline Chip Export Controls as Nvidia China Sales Draw Attention 
Nvidia CEO Jensen Huang to Join Trump’s China Visit Amid AI Chip Tensions 
Wall Street Futures Rise Ahead of Trump-Xi Summit as Tech Stocks Lead Market Rally 
Asian Currencies Hold Steady as Strong U.S. Inflation Data Boosts Dollar 
EQT Launches $3.76 Billion Take-Private Deal for Kakaku.com as Shares Surge 
Japan’s Top Banks to Gain Access to Anthropic’s Claude Mythos AI Model 
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
