South Korean battery maker SDI Samsung is set to build a battery plant in the US with car maker General Motors, according to reports.
The Korea Economic Daily reported that the company is planning to spend about 5 trillion won ($3.8 billion) in a bid to expand its presence in the third-largest global market for electric vehicles (EVs).
GM said it had no comment. SDI Samsung has also been approached.
The report said Samsung SDI and GM agreed to sign a memorandum of understanding in Michigan, US, on 8 March for the factory. It is due to start operations around 2026, according to industry sources in Seoul on Friday.
The two companies are in final negotiations over the investment and the plant’s 30-50GWh production capacity, the report said.
GM had initially sought to construct the fourth battery plant with LG Energy, but the South Korean battery maker was reportedly not able to participate due to a lack of staff and capacity.
Samsung SDI is building its first US battery plant in the US state of Indiana. It will have annual capacity of 23GWh and is being built in partnership with Stellantis, the Dutch car maker.
