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Samsung SDI and General Motors (GM) will jointly develop next-generation batteries for electric vehicles.
Samsung SDI and GM announced on the 11th that they had signed a Joint Development Agreement for a joint advanced development project on next-generation prismatic batteries for electric vehicles.
The two companies will jointly conduct research and development (R&D) on prismatic batteries applying Samsung SDI's high energy density and fast-charging technologies. The prismatic battery products developed will be installed in GM's future electric vehicle models.
Samsung SDI also agreed to acquire GM's entire stake (49.99%) in their joint venture "Synergy Cells" and take over ownership. While cooperation continues, the joint venture relationship will be dissolved.
Synergy Cells is an EV battery production entity with an annual capacity of 27 GWh (gigawatt-hours), established by the two companies in 2024 with a total investment of $3.5 billion (about 5 trillion won) in New Carlisle, Indiana, in the United States, with plant construction currently underway. As its business has been disrupted by slowing EV demand in North America, GM has been scaling back its previously planned aggressive investments. Last year, GM also sold its stake in the Ultium Cells third plant in Michigan, built as a joint venture with LG Energy Solution, to LG Energy Solution.
Through this stake acquisition, Samsung SDI will secure its first wholly owned battery plant in North America. Samsung SDI plans to also build a battery production line for energy storage systems (ESS) at the Indiana plant to preemptively respond to the recently fast-growing North American ESS market.
Samsung SDI previously converted three of the four lines at the first StarPlus Energy plant, its joint venture with Stellantis in Kokomo, Indiana, to ESS use. It has also been working to expand local sales channels, signing a series of large-scale ESS battery supply contracts with major U.S. energy specialists since last year.
A Samsung SDI official said, "This decision is intended to flexibly respond to changes in the North American battery market while continuing our strategic cooperation with GM," adding, "At this plant, we will continue both companies' joint efforts for the future EV era while actively responding to U.S. ESS demand."
