General Motors and Samsung SDI are reportedly set to unveil plans for a new joint battery factory in the US, according to sources cited by Reuters on April 24. The move comes after LG Energy Solution dropped plans for a fourth US factory earlier this year. Currently, GM is constructing a battery factory in Michigan with LG Energy Solution, worth $2.6 billion, set to begin operations in 2024.
The new factory to be announced by GM and Samsung SDI is expected to come at a higher cost than the Michigan factory, but details regarding the location have yet to be disclosed. Both GM and Samsung SDI declined to comment on the reports by Reuters. The partnership marks another step in GM’s plan to accelerate its electric vehicle production and aims to be carbon neutral by 2040. The move also comes as the US government aims to accelerate the country’s transition to electric vehicles and reduce greenhouse gas emissions.
