Seoul: Samsung SDI Co., a prominent South Korean battery manufacturer, has announced a strategic partnership with General Motors Co. (GM) to jointly develop prismatic batteries for GM's upcoming electric vehicle (EV) models.

According to Yonhap News Agency, under the joint development agreement, Samsung SDI and GM will engage in comprehensive research and development efforts to create prismatic batteries that boast high energy density and fast-charging capabilities. This collaboration marks a significant step towards advancing battery technology for future EVs.

Samsung SDI also plans to acquire GM's 49.99 percent stake in Synergy Cells, a joint venture formed with an investment of US$3.5 billion. This venture, established to construct a battery plant in the United States, is currently under construction in Indiana. Samsung SDI holds the majority stake of 50.01 percent in this initiative. The acquisition aims to strengthen both companies' collaborative efforts in developing future mobility solutions and addressing the increasing demand for energy storage systems (ESSs) in the U.S. market.

The Indiana battery plant will feature an annual production capacity exceeding 30 gigawatt hours (GWh). However, the timeline for when the plant will commence its commercial operations remains undecided. Additionally, Samsung SDI operates another 23-GWh EV battery plant in Indiana through a joint venture with Stellantis N.V., which also produces ESS batteries.