General Motors announced that it plans to sell its 49.99% equity stake in the Indiana battery joint venture to Samsung SDI, leaving Samsung SDI as the sole owner of the plant [1, 2, 3]. The facility, located on a 680-acre site in Indiana, was originally developed as a joint venture between GM and Samsung SDI about two years ago. It is planned to employ approximately 1,600 workers and reach mass production in 2027 [1].

GM has invested roughly $300 million so far in site development, completing the plant building but not yet installing production equipment [1]. The total originally planned investment for the Indiana plant was $3.5 billion, split equally between GM and Samsung SDI [3].

Recent shifts in the US electric vehicle market have influenced this decision. The expiration of the US federal EV tax credit in September 2025 led GM and other automakers to reduce their EV production targets. Samsung SDI noted that the equity restructuring reflects market changes since the joint venture was announced, including slower-than-expected EV demand growth [2]. GM has also recorded $11 billion in writedowns on EV programs and sold back a battery plant stake to LG Energy Solution while scaling back EV investments [1].

Samsung SDI plans to use the fully owned US subsidiary to supply batteries for both energy storage systems and electric vehicles but has not finalized specific future investments [2]. GM and Samsung SDI have agreed to end joint venture cooperation on the Indiana plant but remain open to other collaboration forms, such as joint development of next-generation prismatic EV batteries [2].

The sale price details and exact timing remain undisclosed, as the transaction is still subject to negotiation, regulatory review, and local subsidy conditions [3]. GM intends to reduce capital expenditures and production risk by selling the joint venture stake and focusing on existing Ultium battery capacity and more profitable EV products [3].

The ownership transfer was expected to be announced by Samsung SDI around August 11, 2026 [1, 2, 3].