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GM, Samsung SDI Outline $3 Billion Spend on US Battery Plant
- Venture expected to have 30 GWh capacity, operate in 2026
- Companies didn’t disclose exact location of the facility
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General Motors Co. and South Korean battery maker Samsung SDI Co. plan to spend $3 billion on a new cell plant in the US amid a push by President Joe Biden to encourage domestic investment in return for production tax and EV credits.
The plant will have an annual production capacity of 30 GWh and mass production should start in 2026, according to an e-mailed statement from Samsung SDI Tuesday. The company didn’t disclose the facility’s exact location.