General Motors sells stake in Indiana battery plant to Samsung SDI

General Motors (GM) is reducing its stake in the SynergyCells joint venture, selling its 49.99% interest to Samsung SDI. This transaction grants Samsung full ownership of the battery cell manufacturing facility located in New Carlisle, Indiana. The project, valued at approximately $3.5 billion, was originally designed to support the rapid expansion of electric vehicle (EV) production in the United States.

The shift in ownership follows a slowdown in the North American electric vehicle market, partly attributed to the expiration of federal tax incentives in late 2025. As demand has not met previous projections, GM is pivoting its strategy to reduce capital investment in battery cell manufacturing. Instead of direct ownership, GM will focus on supply agreements and the joint development of next-generation prismatic batteries.

Samsung SDI plans to utilize the facility's capacity for both EV batteries and energy storage systems (ESS) to meet growing demand for grid-scale energy storage. The Indiana plant was expected to begin mass production in 2027 with an initial capacity of 27 million kWh per year, with potential for future expansion to 36 GWh.