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Samsung SDI Acquires GM Stake, Takes Over Indiana Battery Plant

8/11/2026

Summary

Samsung SDI Acquires

Samsung SDI will buy GM’s 49.99% stake in Synergy Cells, assume control of the Indiana plant and rename it Samsung SDI Synergy Cells Holdings.
The $3.5 billion plant targets 27 GWh annual capacity and plans mass production in fall 2027.
Samsung SDI and GM signed a joint development agreement that includes adding an energy-storage-system line, with existing ESS orders filling most capacity through 2029 and demand expected to exceed capacity in 2028.

Summary

GM Cancels EVs

GM recorded a $6 billion charge and sold a stake after the $7,500 EV tax credit expired on September 30 2025.
GM spent about $300 million on the New Carlisle battery plant, leaving the equipment uninstalled.
GM cancelled or paused the Silverado EV and Hummer EV, pushing total EV writedowns above $11 billion.
ESS orders now cover most of the plant’s capacity through 2029, with LFP cell production slated for October 2026.

History

Historical Context

July 2014 Panasonic signed a basic agreement with Tesla to co-invest in Nevada’s battery plant, later called Gigafactory 1, with a $5 billion budget and a 35 GWh annual target for 2020. Opened July 2016 as the world’s second-largest building by volume, the project prompted automakers such as Volkswagen and Jaguar Land Rover to brand their battery sites “gigafactories,” expanding the model toward grid-storage contracts.

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Samsung SDI Acquires

Samsung SDI will buy GM’s 49.99% stake in Synergy Cells, assume control of the Indiana plant and rename it Samsung SDI Synergy Cells Holdings.
The $3.5 billion plant targets 27 GWh annual capacity and plans mass production in fall 2027.
Samsung SDI and GM signed a joint development agreement that includes adding an energy-storage-system line, with existing ESS orders filling most capacity through 2029 and demand expected to exceed capacity in 2028.

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