Expect significant new tariffs on Chinese imports and moderate levies on goods from other nations , as President-elect Donald Trump rolls out his protectionist agenda. However, with his preference for chaotic policymaking and sudden shifts , there’s uncertainty on how soon these import taxes will actually hit. Dubbed “ Tariff Man ,” Trump aims to use tariffs both strategically and tactically . He’s mentioned taxing all Chinese goods up to 60% and potentially setting 10%-20% tariffs on imports globally , but details on these plans remain vague . Key players within Trump’s team are divided: Robert Lighthizer , a staunch tariff advocate, sees permanent duties as crucial to balance US trade , while others, like billionaires John Paulson and Scott Bessent , view tariffs as temporary leverage. Trump’s previous administration had mixed feelings, especially on national security-related trade limits , which he sometimes dismissed, favoring an “open for business” approach. High-profile busin
Samsung SDI, the South Korean battery maker, has finalized a deal with General Motors (GM) to build a joint electric vehicle (EV) battery manufacturing plant in Indiana, USA. The project, which involves an investment of approximately $3.5 billion, marks a significant step in both companies' efforts to expand their presence in the growing EV market.
Key Takeaways:
Significant Investment and Capacity Expansion: The new joint venture will initially have an annual production capacity of 27 gigawatt hours (GWh), with plans to begin mass production in 2027. The plant's capacity is expected to potentially increase to 36GWh under future expansion plans, producing prismatic battery cells that will be added to GM's battery technology portfolio.
Strategic Partnership and Technology Development: The partnership between Samsung SDI and GM aims to enhance the performance and reduce the costs of EV batteries, supporting GM's broader electrification strategy. The plant will produce both nickel-rich prismatic and cylindrical cells, diversifying GM's battery cell production capabilities.
Market Impact and Future Outlook: The announcement of the finalized deal led to a rise in Samsung SDI’s shares by as much as 3.2% in morning trading, indicating positive market reception. Despite GM's recent reduction in its 2024 EV production forecast, the collaboration underscores the company's commitment to scaling up its EV offerings in the future.
This joint venture reflects the increasing importance of battery technology in the automotive industry and the strategic moves by major players to secure their positions in the competitive EV market. The Indiana plant will play a crucial role in supporting GM's EV production targets and advancing battery technology innovations.
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