Samsung SDI on Wednesday said it had signed an agreement with General Motors for a joint EV battery factory in Indiana.
First reported by Reuters, the deal calls for the two companies to invest $3.5 billion in the factory, which targets annual production capacity of 27 gigawatt-hours of cells. Samsung reportedly expects the factory to begin mass production in 2027, and is leaving room for capacity to expand to 36 gigawatt-hours in annual volume.
General Motors Ultium batteries
The factory was announced in April 2023. At the time, GM and Samsung said it would cost around $3 billion, would aim for 30 gigawatt-hours of annual cell production, and would open in 2026. At the time, GM said the factory would produce both prismatic and cylindrical cells, highlighting the automaker's flexibility on cell format.
Discussion of those formats means the Indiana factory could build cells that are markedly different than the very large-format pouch cells GM is having manufactured at battery plants under its Ultium Cells LLC joint venture with LG.
Possible electric Chevrolet Camaro in GM Ultium teaser video
Cylindrical cells could be much easier to integrate within lower-profile vehicles than those large-format pouch cells, making them prime candidates for low-slung electric performance cars like the electric Corvette GM has already confirmed, or aerodynamically efficient sedans such as the rumored all-electric replacement for the Chevy Camaro.
Indiana will also host two Samsung SDI joint-venture battery factories with Stellantis. The first, announced in May 2022, will be located in Kokomo and is due to ramp up in early 2025. The two companies announced a second battery factory for Indiana in July 2023, saying at the time that it would begin producing batteries in 2027.
