In a significant move that signals its growing commitment to the electric vehicle (EV) sector, Samsung has acquired General Motors' stake in their $3.5 billion battery joint venture. The joint venture, which was established in 2019, aimed to produce lithium-ion batteries for GM's EVs, including the Chevrolet Bolt and other models. With Samsung's full ownership, the company will now be able to focus on scaling up production to meet the increasing demand for EV batteries. This acquisition marks a major milestone for Samsung's battery business, solidifying its position as a leading player in the EV supply chain.
Samsung Acquires GM’s Stake in $3.5 Billion Battery Joint Venture ESG Today
