GM Partners With Samsung for a $1 Billion Electric Vehicle Battery Factory

The GM logo on the facade of the General Motors headquarters in Detroit, Mich., on March 16, 2021. Rebecca Cook/Reuters

General Motors Co. and Samsung SDI announced plans on Tuesday to build a $3 billion joint-venture electrical vehicle (EV) battery plant in the United States.

The news comes as South Korean president Yoon Suk Yeol is in Washington to meet President Joe Biden on what is the first state visit to the United States by a South Korean leader in 12 years.