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Sunday, April 14, 2024

Samsung SDI, GM’s battery plant likely be built in Indiana

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Samsung SDI CEO Choi Yoon-ho, second from left, and Eric Holcomb, governor of Indiana, take a photo during Holcomb's visit to the battery maker's manufacturing plant in Cheonan, South Chungcheong, in August. [YONHAP]
Samsung SDI CEO Choi Yoon-ho, second from left, and Eric Holcomb, governor of Indiana, take a photo during Holcomb’s visit to the battery maker’s manufacturing plant in Cheonan, South Chungcheong, in August. [YONHAP]

Samsung SDI and General Motors’ joint battery plant will likely be built in St. Joseph County in Indiana.

According to the St. Joseph County Office, it is scheduled to have a redevelopment commission meeting on Tuesday regarding a General Motors factory.

“A development agreement among St. Joseph County, Indiana, the St. Joseph County Redevelopment Commission, and General Motors has been discussed and negotiated,” and “the agreement has been finalized subject to approval by the parties,” a document says.

Samsung SDI declined to confirm, adding that “nothing has been decided yet.”

Samsung SDI announced last month that it will invest more than $3 billion with General Motors to build a battery plant in the United States.

It did not specify details about the breakdowns or location of the factory, but said it aims to start operations in 2026.

Production capacity will stand at 30 gigawatt-hours, enough to manufacture 300,000 EVs. Samsung SDI will likely produce high-nickel prismatic- and cylindrical-type batteries at the factory.

Expectations were that the U.S. automaker would build its fourth factory with LG Energy Solution.

General Motors and LG Energy Solution are building three factories in the United States in Ohio, Tennessee, and Michigan.

Samsung SDI is currently building a $2.5 billion battery plant in Kokomo, Indiana, with Stellantis.

BY SARAH CHEA [chea.sarah@joongang.co.kr]