All-electric vehicles (BEVs) work with an electric motor instead of an internal combustion engine. The vehicle uses a large traction battery pack to power the electric motor and must be plugged in to a wall outlet or charging equipment, also called electric vehicle supply equipment (EVSE).
Now, in 2024, EVs are the key highlight for all automakers. To generate the power, several companies are working on the electric battery.
Reportedly, GM and Samsung SDI are building a battery joint venture plant in Indiana in the United States. The plant will be able to produce 30 gigawatt-hours (GWh) of batteries per year with the beginning of volume production in 2026. The amount is enough to produce batteries for 500,000 electric vehicles.
Partnerships are on the uptick between North America’s No. 1 automaker General Motors (GM) and Korean companies. They started with electric vehicle batteries and are now expanding to battery materials and electronics and semiconductors.
GM Chairwoman Mary Barra, who made her first visit to Korea on Feb. 6, left for Japan on Feb. 7 after a short but significant visit. Barra met with key executives of Samsung Electronics and LG Chem to discuss cooperation across all areas of future vehicles.
GM also signed a 25 trillion won (US$19 billion) contract to supply cathode materials with LG Chem on the day. This volume is enough to produce batteries for five million pure electric vehicles. The deal expands the two companies’ partnership from electric vehicle batteries to battery materials. Previously, GM and LG Chem finalized a comprehensive agreement on the long-term supply of cathode materials in July 2022. LG Chem will supply GM with North American cathode materials starting in 2026 when LG Chem’s Tennessee cathode plant will go live.