GM and Samsung finalize deal for a $3.5 billion EV battery plant in Indiana
Image: Getty
General Motors and Samsung SDI have finalized a $3.5 billion deal to build an electric vehicle battery plant in Indiana, the South Korean company announced Tuesday. The factory will have an initial capacity of 27GWh, which could go up to 36GWh.
The factory was expected to start production in 2026, but now it is anticipated that batteries won’t start rolling off the line until 2027 at the earliest. Construction at the factory is already underway, the News-Gazette reported.
The deal is a sign that the largest automaker in the US is still committed to scaling up EV production, even as its rivals pullback their investment and cancel models. EV sales are still growing, but some automakers are getting cold feet over their earlier predictions...