GM to sell EV battery joint venture stake to Samsung SDI
General Motors is poised to sell its half of a planned $3.5 billion electric-vehicle battery joint venture in Indiana to partner Samsung SDI, according to people familiar with the matter. Samsung SDI is set to buy the 680-acre property, assume ownership of the joint venture and own the battery-making operations. The transaction would transfer responsibility for a large planned battery investment from GM to Samsung SDI, potentially altering investment, production planning and supply-chain arrangements tied to the $3.5 billion project as ownership consolidates under Samsung.
Samsung SDI set to buy GM's half of the $3.5 billion joint venture
Context
A planned $3.5 billion joint venture in Indiana was under shared ownership. Now GM is poised to sell its half and Samsung SDI will take control. The deal could lead to Samsung completing and operating the planned battery site.
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