GM, Samsung SDI To Invest $3 Bln To Build New Battery Cell Production Plant In US

(RTTNews) - General Motors Co. (GM) and Samsung SDI, battery and electronic materials maker, said on Tuesday that they are planning to invest over $3 billion to build a new battery cell manufacturing plant in the U.S. to meet growing demand for electric batteries and vehicles. Mary Barra, Chair and CEO of GM, said: "GM's supply chain strategy for EVs is focused on scalability, resiliency, sustainability and cost-competitiveness. Our new relationship with Samsung SDI will help us achieve all these objectives. The cells we will build together will help us scale our EV capacity in North America well beyond 1 million units annually."

The facility, to be operated by both companies, is scheduled to begin its operations in 2026, with production lines to build nickel-rich prismatic and cylindrical cells.

The plant will have over 30 GWh of capacity to bring GM's total U.S. battery cell capacity to about 160 GWh, once full production starts.

As of now, GM and Samsung SDI haven't announced the location of the plant or employment projections.