South Korea's Samsung SDI to buy out GM's stake in battery joint venture

Aug 11 : South Korean battery maker Samsung SDI said on Tuesday it will end its joint venture agreement with General Motors in Indiana and acquire the U.S. firm's 49.99 per cent stake, citing weaker-than-expected electric vehicle demand.Here are some details:• Samsung SDI said in a regulatory filing that it plans to use the wholly owned unit - SDI-GM Synergy Cells Holdings - to respond to market demand for batteries across various applications, including energy storage systems (ESS) and EVs.• The company said its existing investment plan would change following the shift to a wholly owned unit, but specific investment plans had not yet been finalised. The company said it would make further disclosures in accordance with regulatory requirements. • "The ownership change was made in considerat