On April 26th, it was reported by foreign media that after SK On, a battery manufacturer under SK Group, announced the establishment of a joint venture electric vehicle battery factory with Hyundai Motor Group in the United States, another major South Korean battery manufacturer, Samsung SDI, also announced that it will build a joint venture electric vehicle battery factory in the United States.
Samsung SDI has announced on its official website that it plans to build a joint venture battery factory in the United States. However, it is not with South Korean automakers, but with General Motors to establish a joint venture factory. The two companies have reached an agreement on building a joint venture battery factory in the United States.
According to the information released by Samsung SDI on its official website, the joint venture battery factory planned to be built by Samsung SDI and General Motors in the United States will have an investment of more than 3 billion US dollars, with a planned annual production capacity of 30GWh, and the goal is to start mass production in 2026.
Regarding the joint venture battery factory with General Motors in the United States, Yoon-ho Choi, CEO of Samsung SDI, stated that they are pleased to take an important step with General Motors to establish a long-term partnership in the US electric vehicle market. They will make every effort to produce batteries with the highest level of safety and quality to help General Motors consolidate its position in the electric vehicle market.
Regarding the establishment of the joint venture battery factory, Mary Barra, Chairman and CEO of General Motors, stated that their electric vehicle supply chain strategy focuses on scalability, flexibility, sustainability, and cost competitiveness. Cooperation with Samsung SDI can help them achieve these goals. The batteries jointly developed by the two companies will help them increase their electric vehicle annual production capacity in North America to over one million vehicles.
