US automakers dial back North American battery manufacturing investments, ceding control to South Korean partners
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In early August, US auto giant General Motors (GM) announced it was relinquishing its 49.9% stake in SynergyCells, a JV with Samsung SDI, and as such its stake in the under-construction cell plant in Indiana, US. It is the third battery cell production plant for which GM has ceded its stake back to the South Korean partner, and follows similar moves by Stellantis and Ford over the past two years that have given South Korean firms a tighter grip on US cell manufacturing.