Samsung SDI, GM to form EV battery alliance

FILE PHOTO: The new GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. Picture taken March 16, 2021. REUTERS/Rebecca Cook

SEOUL: South Korean battery maker Samsung SDI and US auto giant General Motors (GM) will build a joint battery manufacturing plant for electric vehicles (EVs) in the United States with an investment worth up to five trillion won (US$3.8bil or RM17bil), according to reports.

The battery alliance, which will mark the first collaboration between the two companies, will become official later this week as they are expected to sign a memorandum of understanding in Michigan on Wednesday.