Sunday, June 22, 2025

Latest

GM and Samsung SDI Partner for $3 Billion EV Battery Plant in Indiana

General Motors (NYSE: GM) and Samsung SDI have announced plans to construct a new EV battery cell plant in New Carlisle, Indiana, with operations set to begin in 2026.

Back in April, the companies revealed intentions to invest $3 billion in a US-based joint venture for an EV battery manufacturing plant but did not specify a location at that time. Previously, GM had decided against proceeding with a fourth battery plant in Indiana with LG Energy Solution; however, the company left open the possibility of building such a facility in the state— but with a different partner.

The joint venture between GM and Samsung SDI is projected to have an annual production capacity of 30 gigawatt-hours and will focus on producing high-nickel prismatic and cylindrical battery cells. Once construction is completed, the plant is expected to create about 1,700 jobs. Yoonho Choi, the CEO of Samsung SDI, emphasized in a statement that the partnership aimed to provide the highest quality products to facilitate America’s transition towards electric vehicles.

Last year, the US Energy Department approved a $2.5 billion loan to another joint venture of General Motors and LG Energy, Ultium Cells LLC. Together, they are building a $2.6 billion plant in Michigan that is due to commence operations in 2024. The two companies also have a plant in Ohio and another under construction in Tennessee.

By mid-2024, GM aims to produce 400,000 EVs in North America, with a view to boost this capacity to 1 million units per year by 2025. In light of rising demand for EVs, Reuters reported in April that GM is contemplating the construction of at least two more EV plants in addition to its announced four.

However, the labor conditions at these facilities have not gone without scrutiny. United Auto Workers (UAW) President Shawn Fain and US Senator Bernie Sanders criticized the GM-LG Ohio venture in April for paying workers less than their counterparts at assembly plants, despite receiving generous tax credits from the Biden administration.


Information for this briefing was found via Reuters. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Tudor Gold x American Creek: Consolidating A Massive Gold Project

Aura Minerals: The Era Dorada Underground PEA

Gold Is Now Smart Money’s End Game | Doug Casey

Recommended

Goliath Resources Closes Out Funding Round With Total Gross Proceeds Of $27.1 Million

Silver47 Kickstarts 4,000 Metre Drill Campaign At Red Mountain Project

Related News

Lucid Motors To Begin Trading Monday; Fundamentals Look Good, But Stock Sports High Valuation

On July 22, Churchill Capital Corp IV (NYSE: CCIV) shareholders were scheduled to vote to...

Sunday, July 25, 2021, 09:00:00 AM

Market Movers: Braille Energy Systems

An industrial business landscape increasingly concerned with energy storage has caused several brief periods of...

Monday, March 15, 2021, 10:33:00 AM

United Auto Workers Strike Against Big 3 Detroit Automakers As Deadline Lapses

In a historic development, thousands of members of the United Automobile Workers (UAW) union initiated...

Friday, September 15, 2023, 09:34:49 AM

GM, LG Scrap Plans to Build Fourth EV Battery Plant

General Motors (NYSE: GM) and LG Energy Solution have halted plans for a battery-cell factory...

Saturday, January 21, 2023, 09:00:00 AM

LG Chem – SK Innovations Trade Agreement a Positive for Electric Vehicle Industry

On April 11, LG Chem, Ltd. and SK Innovation Co., Ltd., two large South Korean...

Sunday, April 25, 2021, 11:23:00 AM