GM sells 49.99% stake in Indiana EV battery plant to Samsung SDI

General Motors has agreed to sell its 49.99% stake in a planned $3.5 billion electric-vehicle battery joint venture in Indiana to Samsung SDI, the South Korean battery giant announced on August 11, 2026. Samsung SDI will acquire the stake and operate the 680-acre plant in New Carlisle, Indiana as a wholly owned facility—its first stand-alone manufacturing hub in North America. The site was originally announced in 2024 as a 50-50 joint venture between GM and Samsung SDI, with plans to employ up to 1,600 workers and begin mass production in 2027. However, the project was delayed amid slowing EV demand in the U.S., which has led GM to take $11 billion in EV-related writedowns and pivot resources toward hybrid and internal-combustion models. GM has already invested $300 million into the Indiana site, which currently features a completed building but no production equipment installed. Despite the sale, both companies will continue collaborating on next-generation prismatic EV battery technology with high energy density and fast-charging capabilities for GM’s future lineup. Samsung SDI confirmed the deal preserves its strategic partnership with GM while enabling the company to address surging demand for energy storage systems (ESS) in the U.S. The transaction follows GM’s broader retreat from aggressive EV manufacturing targets, including the recent sale of its stake in another battery venture with LG Energy Solution and the conversion of a Detroit-area assembly plant back to gasoline-powered trucks and SUVs.