Samsung SDI, GM to build $3.5 billion battery plant in Indiana
Published: 28 Aug. 2024, 08:52
Updated: 28 Aug. 2024, 10:03
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- SARAH CHEA
- chea.sarah@joongang.co.kr
![Samsung SDI CEO Choi Yoon-ho, right, takes a photo with General Motors CEO Mary Barra after the two first signed a memorandum of understanding on a joint U.S. battery plant in March last year. [SAMSUNG SDI]](https://koreajoongangdaily.joins.com/data/photo/2024/08/28/1b22694f-6298-4770-9538-dbf9124fb03b.jpg)
Samsung SDI CEO Choi Yoon-ho, right, takes a photo with General Motors CEO Mary Barra after the two first signed a memorandum of understanding on a joint U.S. battery plant in March last year. [SAMSUNG SDI]
Samsung SDI and General Motors will jointly invest $3.5 billion to build a battery plant in Indiana, despite the global slowdown in EV sales.
The plant, to be located in New Carlisle, Indiana, will have an initial production capacity of 27 gigawatt-hours, sufficient to manufacture 350,000 EVs. The annual capacity is ultimately expected to increase to 36 gigawatt-hours.
Mass production is slated to begin in 2027.
The joint battery plant is expected to create approximately 1,600 new jobs.
BY SARAH CHEA [chea.sarah@joongang.co.kr]
with the Korea JoongAng Daily
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