General Motors Co GM.N and Samsung SDI 006400.KS are set to announce plans on Tuesday to form a joint venture to manufacture electric vehicle batteries in the United States, as the automaker diversifies its component suppliers , according to the sources consulted.

The news comes as South Korean President Yoon Suk Yeol is in Washington for meetings with US President Joe Biden, marking the first state visit to the United States by a South Korean leader in 12 years.

Yoon, who has made business opportunities a cornerstone of his foreign policy visits, is accompanied on his visit to the United States by more than 100 executives from South Korea’s top companies, including the CEO of Samsung Electronics 005930.KS , Jay Y. Lee and Euisun Chung, CEO of Hyundai Motor Group.

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GM and Samsung are planning a battery factory for electricians in the United States

GM and Samsung SDI had no comment on the timing of the announcement. South Korean media announced last month the possible creation of a GM-Samsung SDI joint venture.

A person from Samsung SDI said the South Korean company “will likely have more than one JV battery factory with GM in North America,” without giving further details. The person did not want to be identified because he was not authorized to speak to the media.

Detroit-based GM, like other automakers, is trying to diversify its battery supply chain and secure component capacity to support its electrification goals, in a bid to track Tesla Inc. TSLA.O.

With information from Reuters.

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