The joint venture between General Motors and Samsung SDI for a brand-new battery factory in Indiana is dead.

Samsung SDI bought GM’s 49.99% stake in SynergyCells, making it the sole owner and operator of the upcoming facility.

The battery maker said it will assemble cells and modules for energy storage systems when the factory is up and running.

General Motors and Samsung SDI have ended their joint venture to build batteries in a new factory that’s being constructed in Indiana.

The battery maker said it bought GM’s 49.99% stake in the $3.5 billion SynergyCells joint venture in light of the market changes that appeared since the partnership was inked in 2024, “including the slower-than-expected growth of EV demand.”