GM shows commitment to EVs with $3.5B plant in IN
General Motors (GM) recently showed its commitment to electric vehicles (EVs) by continuing its plans for a $3.5 billion battery plant in Indiana, near New Carlisle.
Earlier this month, the legacy automaker started prepping the site for its $3.5B battery plant for heavy construction. GM is currently preparing for landscaping, the creation of retention ponds, and the installation of essential utilities for the main building at the site.
General Motors’ plans for the IN-based facility were initially delayed because the company’s partnership with LG fell through. The South Korean company was supposed to help GM build its fourth Ultium battery plant.
In 2022, The US Energy Department finalized a $2.5 billion loan for a joint venture between General Motors Co. and LG Energy Solution, Ultium Cells LLC. The funds would help pay for three lithium-ion battery manufacturing plants in Ohio, Tennessee, and Michigan.
Instead of partnering with LG, General Motors has decided to collaborate with Samsung SDI for its battery manufacturing facility in Indiana. The battery plant will be producing cylindrical and prismatic cells. GM hopes that the new plant will increase its versatility in EV offerings.
Extensive construction on the $3.5B cell factory is estimated to begin in 2025. The two companies aim to start production at the Indiana plant by 2027.
General Motors’s decision to continue building a $3.5B battery plant dedicated to EVs is a bold move. Earlier this year, CEO Mary Barra admitted that GM’s EV sales have slowed. She also announced that GM would introduce the company’s plug-in hybrid technology to select vehicles in North America.
“Let me be clear: GM remains committed to eliminating tailpipe emissions from our light-duty vehicles by 2035. But in the interim, deploying plug-in technology in strategic segments will deliver some of the environmental benefits of EVs as the nation continues to build its charging infrastructure,” Barra said.
General Motors isn’t the only automaker talking about slowing EV sales or considering plug-in hybrid production in the United States. Ford and Hyundai have also considered prioritizing hybrid production in the US.
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Source: https://www.teslarati.com/general-motors-3-5-billion-samsung-sdi-battery-plant-in/
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