Samsung SDI announced on August 11 that it will purchase GM's 49.99 percent stake in the Synergy Cells joint venture, converting the Indiana battery plant project into a wholly owned subsidiary. The companies cited slower-than-expected EV demand and will instead pursue a separate joint development agreement on next-generation prismatic batteries. Samsung SDI also operates a separate 23-GWh Indiana battery facility with Stellantis that produces energy storage systems.