Samsung SDI Buys GM's Stake in U.S. Battery JV

By Kwanwoo Jun

Samsung SDI has acquired General Motors' 49.99% stake in SynergyCells, a $3.5 billion battery joint venture in the U.S., ending that joint venture amid sluggish electric-vehicle demand.

The South Korean battery maker said Tuesday it would use the SynergyCells plant in New Carlisle, Ind., which has been under construction since 2024, to make batteries for energy storage systems and other high-tech applications.

Global automakers and EV battery makers have been pressured to scale back or adjust their investment plans, particularly in the U.S., given the sluggish demand and the Trump administration's elimination of EV incentives.

Samsung SDI said that it and GM would continue their strategic partnership, saying that both agreed to develop next-generation prismatic batteries.

"The ownership change was made in consideration of market changes since the joint venture was announced--including the slower-than-expected growth of EV demand," the company said.

"The two partners have now decided to seek other forms of cooperation other than the joint venture."

The SynergyCells plant, originally designed to produce 27 gigawatt hours of EV batteries annually, could be repurposed to serve the fast-growing U.S. ESS market, it said.

Write to Kwanwoo Jun at kwanwoo.jun@wsj.com

(END) Dow Jones Newswires

August 11, 2026 02:14 ET (06:14 GMT)