GM and Samsung agrees for EV battery venture and build a plant in Indiana

General Motors (GM) and Samsung SDI have announced a final agreement to form an electric vehicle (EV) battery manufacturing venture and build a battery plant. Both companies aim to supply EV batteries in the US.

Top leaders from GM and Samsung SDI attended the agreement signing ceremony at Samsung SDI’s Seoul office. This deal is part of an initial agreement signed in April last year.

Samsung SDI President & CEO Yoon-ho Choi, and Kurt Kelty, executive vice president of General Motors Battery Cells & Pack Business signed the agreement to form this joint EV battery venture.

The new company will be located in New Carlisle, Indiana. It will be based on a 680-acre site and it is expected to provide employment to more than 1,600 people locally.

Initially, both partners will invest around $3.5 billion to build a new battery cell manufacturing plant. It will have an annual production capacity of 27GWh and the mass production is targeted for 2027. After expansion, the production capacity is expected to climb up to 36 GWh.

The venture will produce NCA-based nickel-rich prismatic batteries and GM will use them firsthand in its upcoming EV lineup. These prismatic batteries are expected to bring high energy density and provide extended driving range.

These types of batteries also facilitate easy stacking and modular design for battery pack manufacturing of different sizes and capabilities.

It will use llic exterior and venting system to improve safety, which is essential to electric vehicles. Other than GM, these batteries will eventually make their way to other customers as planned by both partners.

(source)