GM and Samsung Seal $3.5B Deal for Indiana EV Battery Plant, Boosting Electric Corvette and Camaro Prospects

Samsung SDI announced on Wednesday that it has entered into a partnership with General Motors to establish a $3.5 billion electric vehicle battery manufacturing facility in Indiana.

According to information initially disclosed by Reuters, the agreement stipulates a joint investment of $3.5 billion by the pair of firms into the plant. The goal for this facility is to achieve a yearly production capability of 27 gigawatt-hours worth of cells. Samsung is said to foresee the commencement of large-scale production by the year 2027, with provisions in place to boost the production capacity up to 36 gigawatt-hours per annum if needed.

Ultium Batteries by General Motors

In April 2023, GM and Samsung revealed plans for a new factory. The projected investment was about $3 billion, with a goal to achieve an annual production capacity of 30 gigawatt-hours. The anticipated operational start date for the facility is 2026. GM noted that the plant would be equipped to manufacture prismatic as well as cylindrical cells, showcasing the company's adaptable approach to cell structure.

Talking about those designs suggests that the factory in Indiana may produce battery cells that are significantly distinct from the oversized pouch cells that GM is producing at its battery facilities through its collaborative enterprise, Ultium Cells LLC, with LG.

Potential electric version of the Chevrolet Camaro teased in GM's Ultium promotional clip

Round-shaped battery cells might be more conveniently incorporated into slimmer vehicles compared to the bigger, flat cell types, positioning them as top choices for electric sports cars with reduced height, such as the electric Corvette that GM has announced, or for sleek, aerodynamic four-door cars like the potential all-electric version of the Chevy Camaro that's been speculated about.

Indiana is set to be the site for a pair of battery manufacturing plants as a result of a collaborative effort between Samsung SDI and Stellantis. The initial plant was publicized in May 2022 and will be situated in Kokomo, with production expected to commence at the start of 2025. Subsequently, in July 2023, the partnership declared plans for a second facility within the state, projecting to start battery production in 2027.

Labels:

Participate:

Spread the Word:

Get in Touch with the Editor:

Stay Updated with Us:

Subscribe to the Green Car Reports Newsletter

Register to receive daily updates on the newest developments in green vehicles and environmental topics straight to your email!

I consent to getting emails from Green Car Reports and am aware that I have the option to opt out whenever I choose. Privacy Policy.

The initial models to enhance the car manufacturer's fresh hybrid approach might be the Genesis GV70 with extended range and the Hyundai Santa Fe.

Significant transformations are underway at Polestar.

Hyundai broadens the range of the Elantra Hybrid models and reduces the cost for the year 2025.

Porsche views synthetic fuels as an alternative to traditional petrol amidst the shift to electric vehicles.

The upcoming law enforcement vehicle from Dodge may feature a battery-powered engine.

Porsche intends to revitalize its combustion engine vehicles with updates even as their electric counterparts make their debut on the sales floor.

The range of models for the Cadillac Lyriq has been reduced, and the prices for the remaining versions have been decreased.

The substantial increase in tariffs, scheduled to be implemented on the first of October 2024, closely align with those enacted by the United States.

Porsche investigated the concept of preset gear changes in electric vehicles, however, the notion was not pursued further.

Hyundai has been working on creating heated glass, exploring radiant heat solutions, and continuing to examine window-tinting technologies to improve efficiency.

The turmoil at Canoo persists as the company undergoes a move and faces further exits from its leadership team.

Associated Content

Top Picks

Image Gallery

Current Events

Press

Retailer Resources

Feeds

Corporate

Connect With Us Now: