GM to End Chevy Bolt EV
Samsung SDI said it will invest $3 billion or more to build a joint-venture electric-vehicle battery plant with General Motors in the United States. Targeted to start in 2026, the plant is expected to have an annual production capacity of 30 gigawatt hours, Samsung SDI said in a regulatory filing.
GM, like other automakers, is looking to diversify its battery supply chain and secure capacity of components to support its electrification goals as it attempts to catch up with Tesla. 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.