OLIVE TOWNSHIP, IND. — A joint venture between General Motors Co. (NYSE: GM) and Samsung SDI, part of the South Korean-based Samsung Electronics group, plans to build a $3 billion electric vehicle (EV) battery plant in Olive Township. The duo plan to begin operations at the Northwest Indiana plant in 2026.
The new facility will house production lines to build prismatic and cylindrical battery cells and is expected to help significantly increase the accessibility and affordability of GM’s line of EVs. Once complete, the plant will support about 1,700 full-time jobs, in addition to 1,000 construction jobs during the build-out.
“We are grateful that Samsung SDI can contribute to boosting the economy of Indiana and creating new jobs here,” says Yoonho Choi, president and CEO of Samsung SDI. “Securing Indiana as a strong foothold together with GM, Samsung SDI will supply products featuring the highest level of safety and quality in a bid to help the U.S. move forward to an era of EVs.”
GM and Samsung SDI announced their joint venture in April and ultimately selected Olive Township, a city in St. Joseph County near the Indiana-Michigan border and 15 miles west of South Bend, home of Notre Dame University. The site is east of New Carlisle, Ind., at the intersection of Larrison Boulevard and Ind. Highway 2.
GM has a considerable presence in Indiana with five facilities across the state that employ more than 5,700 people. The auto manufacturer announced plans yesterday (June 12) to invest $632 million in its Fort Wayne Assembly plant to expand operations and upgrade equipment to support its growing full-size truck business. GM also announced plans to invest $491 million to expand and upgrade its Marion, Ind., facility to support its growing EV production.
Construction is expected to begin at the Olive Township site within the next year. The project represents the largest EV investment in Indiana’s history, according to Indiana Gov. Eric Holcomb.
The Indiana Economic Development Corp. is working with GM and Samsung SDI to finalize a performance-based incentive offer to support the joint venture’s investment and job creation plans. St. Joseph County, Indiana Michigan Power and Northern Indiana Public Service Co. offered additional incentives to the manufacturers.
General Motors, its subsidiaries and its joint venture entities build and sell vehicles under the Chevrolet, Buick, GMC, Cadillac, Baojun and Wuling brands. The auto manufacturer plans to install more than 1 million units of annual EV capacity in North America in 2025 and accelerate from there. Just this year, the Detroit-based company announced a $918 million investment across four U.S. facilities, as well as a $1 billion investment at two plants in Flint, Mich.
GM’s stock price closed on Monday, June 12 at $36.67 per share, up from $32.28 a year earlier.
Samsung SDI is a battery and electronic material manufacturer whose products support EVs, energy storage systems and IT devices. The company has committed to sourcing 100 percent renewable energy across its global operations by 2050.
— John Nelson