Samsung SDI Acquires GM Stake in Indiana Battery Plant

Samsung SDI has acquired General Motors' 49.99% stake in their joint venture, SynergyCells, giving the South Korean battery maker sole ownership of a manufacturing facility under construction in New Carlisle, Indiana. The transaction, announced on August 11, 2026, unwinds the joint venture structure established in May 2023, with both companies citing slower-than-expected growth in electric vehicle demand as the primary reason for the change.

The plant, a 680-acre site representing a $3.5 billion investment, was originally designed to produce nickel-rich prismatic cells for General Motors' electric vehicles. With the ownership change, Samsung SDI will now initially focus the facility on producing batteries for energy storage systems (ESS) to respond to the rapidly growing U.S. market for stationary storage. The company stated that the plant, which is expected to come online in 2027, will become its first independently operated battery production base in North America.

While the joint venture has been dissolved, the two companies have signed a new joint development agreement focused on next-generation prismatic battery cells. These cells are designed for high energy density and...