"GM Abandons EV Push: Battery Venture Deal Falls Through as Demand Falters In a surprising move, General Motors has announced plans to sell its stake in a massive $3.5 billion battery joint venture in Indiana to Samsung SDI, marking a significant retreat from the electric vehicle (EV) market. The joint venture, which was initially aimed at producing batteries for GM's EV lineup, had been seen as a key component of the automaker's push into the increasingly competitive EV space. However, with demand for EVs remaining weak, GM appears to be reassessing its strategy and scaling back its EV ambitions. The sale of the battery venture is the latest sign that GM is reevaluating its commitment to the EV market, sparking questions about the company's long-term plans for electric vehicles."
General Motors will sell its half of a planned $3.5 billion battery joint venture in Indiana to Samsung SDI, marking another retreat from EVs amid weak demand.
