They did not announce the intended location of the new factory, which is expected to begin operations in 2026, GM and Samsung SDI said in a statement.GM and Samsung SDI plan to jointly operate the factory, which is expected to make nickel-rich prismatic and cylindrical cells. The companies said it was expected to create thousands of jobs.
The announcement coincides with a visit to the United States by South Korean President Yoon Suk Yeol. The two countries are marking the 70th anniversary of their alliance with a summit that was also feature announcements on new nuclear deterence efforts, cyber security and other areas of co-operation.
"We will do our best to provide the products featuring the highest level of safety and quality produced with our unrivaled technologies to help GM strengthen its leadership in the EV market," Samsung SDI President and CEO Yoon-ho Choi said in a statement. GM has pledged to sell only electric vehicles by 2035. It has said that because of its huge investment in battery plants and a North American EV supply chain, six of its current or upcoming electric vehicles are to be eligible for the full $7,500 U.S. federal EV tax credit. They are the Chevrolet Bolt and Bolt SUV, the Chevrolet Silverado electric pickup, the Cadillac Lyriq SUV and the upcoming Chevy Blazer and Equinox electric SUVs.