GM, Samsung partner on $3B EV battery facility in Indiana
The new plant will create 1,700 jobs
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General Motors and Samsung SDI will build an EV battery cell plant in St. Joseph County, Indiana, the state’s governor announced on Tuesday.
The new facility will begin operations in 2026 while creating 1,700 manufacturing jobs.
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Indiana Gov. Eric Holcomb said, "GM has long been one of America’s most iconic brands and deeply rooted in Indiana."
Electric truck maker Rivian Automotive sources batteries from South Korean supplier Samsung SDI. (Michael Brochstein/SOPA Images/LightRocket via Getty Images)
"For decades, Hoosier communities like Marion, Bedford and Fort Wayne have been part of the production of countless firsts for family vehicles," he added. "I couldn’t be more excited to again see GM alongside one of Indiana’s newest world-class companies, Samsung SDI, take this giant leap and make this $3 billion commitment that will transform the automotive industry aided by our proud Hoosier workforce."
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In a joint announcement, GM Chair and CEO Mary Barra said, "GM’s supply chain strategy for EVs is focused on scalability, resiliency, sustainability and cost-competitiveness."
"Our new relationship with Samsung SDI will help us achieve all these objectives," she said. "The cells we will build together will help us scale our EV capacity in North America well beyond 1 million units annually."
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GM | GENERAL MOTORS CO. | 55.49 | +0.70 | +1.29% |
Both GM and Samsung said they will operate the facility together to build nickel-rich prismatic and cylindrical cells.
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Samsung SDI President and CEO Yoon-ho Choi said, "We will do our best to provide the products featuring the highest levels of safety and quality produced with our unrivaled technologies to help GM strengthen its leadership in the EV market."
"It is a great pleasure to take the very first step to create a long-term industry-leading partnership with GM in the U.S. EV market."
Construction is planned to begin within the next year and support more than 1,000 jobs during the build.