Samsung SDI and GM sign contract to set up battery factory in U.S., confirming investment of $3.5 billion - South Korean media

Samsung SDI, a major battery manufacturer, and General Motors (GM), a major U.S. automaker, have agreed to establish a joint venture to build an electric vehicle (EV) battery factory in the United States.
The two companies signed a memorandum of understanding (MOU) with similar content in March 2023. They had been discussing details, including the location of the factory site.
The location of the factory was decided in Indiana. The site size will be 2.77 million square meters. The target is to start mass production in 2027, and the cost will be about 3.5 billion dollars.
The company will invest 505.2 billion U.S. dollars in the project to set up a 27GWh/year facility initially, which will then be expanded to 36GWh.
The factory will produce prismatic batteries using nickel-cobalt aluminum (NCA) for use in GM's EVs. Samsung SDI's prismatic batteries have a high energy density.
Not only will the new battery improve driving range, but it will also feature a battery vent, providing excellent safety features. The company plans to use the new factory as an opportunity to expand its share of the North American EV market.
Samsung SDI President Choi Yunho (U-KNOW) said, "We will help GM expand its market share with our PRiMX battery, which is packed with our technology."