Samsung SDI is converting its U.S. battery joint venture with General Motors (GM) into a wholly owned production base. While acquiring GM's entire 49.99% stake in the joint venture, the companies will continue their technological collaboration, including a new joint development project for next-generation prismatic batteries for electric vehicles (EVs).
On the 11th, Samsung SDI announced that it will acquire all of GM's shares in the joint venture, Ultium Cells, and take full ownership.
Ultium Cells, established in 2024 with a $3.5 billion (approximately 5 trillion KRW) investment by Samsung SDI and GM in New Carlisle, Indiana, is a 27-gigawatt-hour (GWh) EV battery production subsidiary currently under construction.
The plant is set to mass-produce cutting-edge battery products, including next-generation prismatic batteries co-developed with GM, for various applications.
Through this acquisition, Samsung SDI will secure its first standalone battery plant in North America.
Technological collaboration will continue. Samsung SDI signed a Joint Development Agreement (JDA) with GM to co-develop next-generation prismatic batteries for EVs. The companies plan to jointly research and develop prismatic batteries incorporating Samsung SDI's high-energy-density and fast-charging technologies to address future mobility markets.
The prismatic battery products developed through this agreement are expected to be used in GM's next-generation EV models.
A Samsung SDI representative stated, “This decision reflects market changes while continuing the strategic partnership with GM. We will sustain joint efforts for the future EV era at this plant and actively respond to U.S. energy storage system (ESS) demand.”
