GM, Samsung announce $3.5 billion plan to build Indiana EV battery plant

America's largest automaker, General Motors, and Samsung SDI announced that they have finalized a $3.5 billion deal on Wednesday, Aug. 28, to build an electric vehicle battery plant in New Carlisle, Indiana. Among the products that will be at the plant beginning in 2027 are prismatic cells. As EV technology evolves, experts note that this technology may become more prevalent in the industry.

Currently, GM uses Ultium batteries in its electric vehicles. However, prismatic cells offer better performance because they have greater energy than Ultium batteries, which leads to better performance.

The prismatic cells are also reportedly safer because they operate at "lower voltages" and have "higher thermal stability." Additionally, they're considered more durable because they require fewer connections, which means less cleaning and welding is needed.

The new factory will reportedly create more than 1,600 jobs and be on a 680-acre site. GM and Samsung SDI will reportedly not have to pay taxes for 10 years in exchange for paying for several infrastructure projects in the community, which total $4.5 million .

The deal between GM and Samsung SDI comes at a time when some rival automakers are pulling back their investments into EVs. While EV sales are still growing , they're not growing as fast as earlier predictions suggested.

New EV facilities are expected to pop up in the near future. They are spurred on by the Biden administration's tax incentives .

Ford said it plans to up its production capacity at its three battery plants and Stellantis announced plans to build a new battery factory in Indiana. BMW has also said it expects to open a plant in South Carolina .

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