SEOUL (Reuters) – Samsung SDI Co Ltd said on Tuesday it will invest $3 billion or more to build a joint venture electric vehicle (EV) plant with General Motors Co in the United States.
Targeted to start in 2026, the plan aims to have an annual production capacity of 30 gigawatt hours (GWh), Samsung SDI said in a regulatory filing. The company said the location of the planned JV plant is not yet decided.
Reuters reported on Monday that the two companies were set to announce their plan to build a joint venture battery manufacturing plant in the United States.
(Reporting by Heekyong Yang and Joyce Lee; Editing by Louise Heavens)