South Korean battery maker Samsung SDI and American automaker General Motors (GM) have unexpectedly canceled their joint $3.5 billion battery plant project in Indiana. The massive undertaking, initially announced in 2020, aimed to supply GM with lithium-ion batteries for its electric vehicles. Despite the project's cancellation, the two companies have agreed to continue their collaboration, shifting their focus to the development of prismatic batteries. This new partnership is expected to drive innovation in the electric vehicle sector, with Samsung SDI and GM looking to improve the performance and efficiency of their battery technology.
Samsung SDI, GM end $3.5B battery plant venture in Indiana, to co-develop prismatic batteries Korea JoongAng Daily
