General Motors and Samsung New Carlisle Joint Venture

SAMSUNG SDI announced that the company has completed and signed an agreement with General Motors to establish a joint venture to supply electric vehicle (EV) batteries in the United States.The ceremony was held at SAMSUNG SDI's office in Seoul, and was attended by key executives from both companies, including SAMSUNG SDI CEO Yoon-ho Choi. SAMSUNG SDI reached an agreement with GM in April of 2023 to form an EV battery joint venture.

Through the partnership, General Motors and Samsung will invest approximately $3.5 billion to build a new battery cell manufacturing plant with an annual production capacity of 27GWh initially, targeting mass production in 2027. The annual capacity is expected to rise to 36GWh under following expansion plans.

General Motors is delaying the start of production at its electric vehicle battery plant in New Carlisle by about a year. Production was set to start at the plant in 2026 when the plans were announced last summer, but they’ve now been delayed until 2027. South Bend Regional Chamber of Commerce President Jeff Rea says the delay is due to market conditions, but says he is confident production will go on as planned. From https://www.wndu.com/2024/08/28/gm-delaying-production-new-carlisle-ev-battery-plant/