General Motors is reportedly planning to sell its stake in the Indiana battery joint venture to Samsung SDI.

According to informed sources, General Motors is preparing to sell half of its stake in a $3.5 billion electric vehicle battery joint venture to its partner Samsung SDI, which is set to acquire the 680-acre land, take over the joint venture, and own the battery manufacturing plant located in New Carlisle, Indiana. General Motors initially hoped to produce enough energy storage products at this plant amid the growing demand for electric vehicles. It is currently unclear how Samsung SDI plans to handle the plant. Samsung SDI did not immediately respond to requests for comment.