GM, Samsung SDI plan to build new US battery plant

New York, The Gulf Observer: General Motors Co (GM) and Samsung SDI are expected to announce as early as Tuesday that they plan to build a new joint-venture battery manufacturing plant in the United States, sources told media.

Reuters reported in January that GM and LG Energy Solution would not move forward with a fourth U.S. battery manufacturing plant. GM and LG Energy Solution are building a $2.6 billion plant in Michigan, set to open in 2024, one of three joint-venture Ultium Cells LLC plants.

The new GM Samsung SDI plant is expected to cost more than the Michigan battery plant, the sources said, but no location will be immediately announced. GM and Samsung SDI did not comment.

“GM and LG Energy Solution have agreed on building three battery JV plants in the United States, and we would also likely have more than one battery JV plant with GM in the United States to better meet GM’s EV battery demand and electrification goals,” a Samsung SDI source, who declined to be named because he was not authorized to speak to media, told Reuters.

The source added that the two companies are considering having a couple of battery JV plants in North America.