Samsung SDI will collaborate with General Motors (GM) in order to establish an electric vehicle battery joint venture in the United States. With a capacity of 30 GWh, the aggregate investment of the two companies will amount to US$3 billion which comes to be 4 trillion won.
Samsung SDI revealed recently that it will develop a joint venture plant of batteries with GM. It motive to gaze at the volume of production in 2026. The 30 GWh capacity is sufficient enough to make batteries for more than 350,000 electric vehicles annually. The joint venture plant will tend to produce high-performance high nickel prismatic and cylindrical batteries. It will be equipped in GMs forthcoming electric vehicles.
Apparently, Samsung SDI will route a joint venture with a capacity of 23 GWh with Stellantis in Indiana, United States in 2025. Therefore, the association with GM will definitely expand Samsung SDIs North American supply capacity. It clearly indicates that Samsung SDI achieves a more big corporate customer. Specifically after BMW, Volkswagen, Audi, and Volvo (commercial vehicles).
Samsung SDI provides the batteries for Electric Vehicle eligible for the IRA subsidies
GM is speculated to raise the number of models that fit the United States Inflation Reduction Act (IRA) subsidies. While Samsung SDI presently provides the batteries for four of the 22 electric vehicles that are eligible for the IRA subsidies. Notably, it has been introduced by the U.S. Treasury Department. The models include Jeep Grand Cherokee and the Wrangler, the Ford Escape, and the Lincoln Corsair.
“Samsung SDI took the first step in a long-term strategic collaboration with GM to lead the electric vehicle market,” said Choi Yoon-ho, president of Samsung SDI. “Together, we will manufacture cells to power more than one million electric vehicles annually in North America,” said GM Chairwoman Mary Barra.
Also, Samsung SDI’s decision in order to make this investment is commendable in the phase of late high-interest rates. This potentially improves the image of Samsung SDI. As same has been condemned for its lack of investment in new facilities as compared to LG Energy Solutions and SK Energy.
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