Published , by Donovan Erskine
Published , by Donovan Erskine
General Motors has been steadily increasing its efforts to build more electric vehicles as it looks to compete with other top car manufacturers. Alongside its latest earnings report, GM announced a new collaboration to get more battery cells in production. General Motors and Samsung SDI will invest $3 billion into building a new battery cell manufacturing plant by 2026.
General Motors announced its partnership with Samsung in a press release today. The Detroit and Seoul-based companies will spend over $3 billion to build a new battery cell factory in the United States. The current goal is for the facility to be in production by 2026. The primary goal here is to increase GM’s capacity to build more EVs, as explained by CEO Mary Barra.
Samsung CEO Yoon-ho Choi also provided a statement on the partnership with GM.
The collaboration between General Motors and Samsung is a fascinating new wrinkle in the EV race, which continues to heat up as manufacturers invest more resources into it. Just a few weeks ago, we learned that GM’s quarterly EV shipments surpassed 20,000 for the first time ever in Q1. For the latest electric vehicle news, Shacknews has you covered.