Samsung has announced changes for a New Carlisle battery plant.
In 2023, it was announced that Samsung and General Motors were teaming up to build a $3.5 billion plant to make batteries for electric vehicles. But construction was paused earlier this year, after automakers pulled back on EV production with the end of federal tax credits.
Now, Samsung says it’s buying out GM’s 49.99-percent stake in the joint venture. For now, Samsung plans to use the site to make batteries for energy storage systems, a market that’s growing more quickly. That will make it Samsung’s first independently operated battery plant in North America, according to a company press release.
Still, Samsung says it hasn’t given up on its partnership with GM. The two companies have signed a new joint development agreement for next-generation prismatic EV batteries. Samsung says those could potentially be made at the New Carlisle plant in the future.
