General Motors and Samsung SDI plan to invest about $3.5 billion in an EV battery plant in St. Joseph County.
The joint venture will be built on a 680-acre site between New Carlisle and South Bend. The facility is expected to create more than 1,600 jobs supporting the local economy. The new battery cell manufacturing plant will have an annual production capacity of 27GWh to 36GWh.
The new plant will produce NCA-based high-performance nickel-rich prismatic batteries. The batteries are expected to be deployed in upcoming GM electric vehicles. Through the venture, GM and Samsung aim to gain a foothold in the North American EV market.
The agreement was signed at a ceremony at Samsung SDI’s office in Seoul. It was attended by executives from both companies. Samsung reached an agreement with GM last year to form an EV battery joint venture and has since been working on finalizing details.
“Building on last year's partnership with GM, the No. 1 automaker in North America, we have established a premium battery production hub to lead the U.S. EV market.” said Yoon-ho Choi, Samsung SDI CEO, in a press release.
The two companies are targeting mass production in 2027.
“The EV market and GM sales will continue to grow as more customers experience our EVs, the charging infrastructure builds out, and we expand into more segments,” said Mary Barra, GM chair and CEO.
Samsung SDI is a South Korean lithium-ion battery and electronics manufacturer. The company was established by the Samsung group and Japanese electronics maker NEC in 1970. It began as a manufacturer of picture tubes.
