General Motors (GM) is planning to sell its interest in its Indiana electric vehicle (EV) battery venture to South Korea’s Samsung SDI, Bloomberg reported.
The proposed sale comes after construction at the facility was paused earlier this year. GM said in May that work would be halted to align production capacity with current demand, with the companies saying they would provide an update on the site’s future at a later date.
The project had already faced uncertainty as GM reassessed its EV strategy. Earlier reports said options under consideration included GM withdrawing from the venture as well as potentially shifting the plant towards lithium iron phosphate battery technology.
The planned divestment would further streamline GM’s US battery manufacturing footprint as traditional automakers adjust investment plans following a slower-than-anticipated expansion of the EV market. GM previously sold its stake in a nearly completed Michigan battery plant to partner LG Energy Solution as part of efforts to manage battery capacity more efficiently.
