GM exits $3.5B Indiana battery plant as Samsung SDI takes full control

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Samsung SDI is taking full control of its Indiana battery plant. A joint venture that lasted about two yearsGM and Samsung SDI first announced the partnership in April 2023 and finalized the $3.5 billion joint venture in 2024. Samsung SDI buys the whole thingUnder the deal, Samsung SDI acquires GM’s 49.99% holding in the venture, filed under the name SDI-GM Synergy Cells Holdings, and converts it into a wholly owned subsidiary. Samsung SDI and GM signed a separate agreement to jointly develop next-generation prismatic batteries for potential future EV use. Investors weren’t thrilled about Samsung SDI absorbing the risk on its own.