General Motors and Samsung SDI are expected to announce hat they plan to build a new joint venture battery manufacturing plant in the United States, sources told Reuters.
Reuters reported in January that GM and LG Energy Solution would not move forward with a fourth U.S. battery manufacturing plant. GM and LG Energy are building a $2.6 billion plant in Michigan, set to open in 2024, one of three joint venture Ultium Cells LLC plants.
GM said last year it expects to build 400,000 EVs in North America from 2022 through mid-2024 and increase capacity to 1 million units annually in North America in 2025. Sources said GM is considering whether it will eventually need at least two additional EV plants to meet future EV demand.