Samsung SDI will acquire all of the equity in the joint venture from U.S. automaker General Motors (GM). In effect, it is halting operation of the joint plant. The move follows the U.S. electric vehicle market's sluggish recovery and GM's revision of its electrification strategy.
Samsung SDI said on the 11th that it will acquire GM's entire equity stake (49.99%) in the joint venture "SynergyCells" and receive the transfer of ownership.
SynergyCells is an electric vehicle battery manufacturing entity established in 2024 in New Carlisle, Indiana, by Samsung SDI and GM. The two companies had announced plans to invest a total of $3.5 billion to build an EV battery plant in New Carlisle with an annual capacity of 27 GWh. The plant is under construction and was originally scheduled to start operations in 2027.
By acquiring all of GM's equity in SynergyCells, Samsung SDI has secured its first stand-alone battery plant in North America. Samsung SDI plans to mass-produce cutting-edge battery products at the plant for a range of applications, including next-generation prismatic batteries for electric vehicles jointly developed with GM.
In particular, Samsung SDI plans to install production lines for energy storage system (ESS) batteries at the New Carlisle plant as well, aiming to respond preemptively and proactively to the rapidly growing North American ESS market.
A Samsung SDI official said, "This decision is intended to respond flexibly to changes in the North American battery market, and the two companies agreed to continue their cooperative relationship at a new stage," adding, "Since last year, Samsung SDI has been expanding local sales channels in the United States by signing a series of large-scale ESS battery supply contracts with major energy companies."
However, the two companies will jointly develop batteries for next-generation electric vehicles. To that end, Samsung SDI and GM signed a Joint Development Agreement for a joint advanced development project on prismatic batteries for next-generation EVs.
Under the agreement, the two companies will conduct joint research and development on prismatic batteries incorporating Samsung SDI's high energy density and fast-charging technologies, continuing strategic cooperation to address the future mobility market. Prismatic battery products developed through this agreement are expected to be installed in GM's next-generation electric vehicle models.
A Samsung SDI official said, "This decision reflects market changes while aiming to continue our strategic partnership with GM," adding, "At this plant, we will continue the two companies' joint efforts for the future EV era while actively responding to U.S. ESS demand."