EVwire brief: Samsung SDI has acquired General Motors' 49.99% stake in their SynergyCells joint venture, taking sole ownership of a $3.5 billion battery cell plant under construction in New Carlisle, Indiana. The deal gives Samsung SDI its first wholly owned factory in North America.
Samsung SDI said the split reflects "slower-than-expected growth of EV demand" since the venture was announced in April 2023. The original plan called for 27 GWh of starting capacity, eventual expansion to 36 GWh, and more than 1,600 jobs. Production was supposed to start in 2026 but got pushed to 2027. GM has not issued a comment about the matter.
The $3.5 billion SynergyCells plant in New Carlisle, Indiana. Production was supposed to start in 2026.
Rather than making EV battery cells, Samsung SDI will first use the factory for energy storage system batteries, pointing to rapid growth in the U.S. ESS market. The two companies also signed a separate deal to co-develop next-generation prismatic cells with high energy density and fast-charging capability. Samsung SDI says the Indiana plant could eventually produce those cells too, but nothing is finalized.
While reflecting recent market changes, this acquisition decision is to continue the strategic partnership with GM. We will continue our commitment to an electrified future with the partner, while utilizing the plant to proactively respond to the fast-growing ESS market in the U.S.
Samsung SDI will initially use the plant for energy storage batteries, not EV cells.
Context:
This is the second battery cell venture GM has exited. In December 2024, the automaker sold its stake in an unfinished cell plant in Lansing, Michigan, to LG Energy Solution. GM then took a $6 billion write-down on its EV business in January 2026, following a $1.6 billion write-down in late 2025 tied to softening demand after the $7,500 federal EV purchase credit expired.
GM is not alone in adjusting its electrification plans. Ford restructured its Model e EV division earlier this year, while its BlueOval SK battery joint venture with SK On was dissolved in late 2025 as both companies reorganized ownership of their U.S. battery plants.
Source: Electrive, Samsung SDI
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