General Motors and South Korea's Samsung SDI plan to invest more than $3 billion in building a new battery cell manufacturing plant in the United States, the companies said Tuesday.
They did not announce the intended location of the new factory, which is expected to begin operations in 2026, the companies 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 project is GM's fourth joint venture battery cell factory. It has announced three others with South Korea's LG Energy Solution. The new factory will have more than 30 gigawatt hours of capacity and will increase GM's total U.S. battery cell capacity to about 160 gigawatt hours when it is at full production, the companies said.
GM has pledged to sell only electric vehicles by 2030.
