General Motors (GM.US) is withdrawing from battery manufacturing, and Samsung SDI is fully taking over the joint venture factory in the U.S.

According to the Zhichun Finance APP, amid a sustained slowdown in electric vehicle demand, General Motors (GM.US) is further shrinking its battery manufacturing footprint. South Korean battery manufacturer Samsung SDI announced on Tuesday that it will terminate its battery joint venture agreement with General Motors in Indiana, USA, and acquire all the equity held by General Motors, transforming the facility into its first independent manufacturing base in North America.