Samsung signs a lease for a $ 62.7 million battery facility, the Auburn Hills headquarters

Samsung is approaching the move date for its new $ 62.7 million car battery facility in Auburn Hills.

The company is expected to move to the 137,560-square-foot facility by late spring or early summer, said Peter Kepic, senior vice president of Colliers International, Detroit, who owns the building, Joel Nosanchuk.

The new building will serve as a battery system and site for automatic battery operations for Samsung SDI America Inc., the US subsidiary of the Samsung battery production company, as well as a technology research and development center. The facility is the first of its kind in the United States, Samsung said.

Kepic has refused to provide the leasing terms of the center at 50 Continental Drive.

The office space will occupy about 15,000-20,000 square feet, and the rest will serve as a store and research and development space, Kepic said.

The company hired the Magnum Industrial Building Co. in Bloomfield Hills and Smith & Schurman Associates Inc., based in Birmingham, to design and build the new plant, according to Kepic.

As part of the project, Samsung plans to create 461 jobs at the Auburn Hills facility by the end of 2024, including production line operators, factory managers and engineers, Crain & # 39; s reported to November.

The project has garnered support from the Michigan Strategic Fund, which has given the green light to a grant for the $ 10 million Michigan business development program. The company also lowered the property tax by the city of Auburn Hills and reduced taxes for the state education of 6 million.

The tech conglomerate posted revenues of around $ 217.1 billion in 2018.

A Samsung spokesperson could not be reached immediately for comment.

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