Samsung SDI, the battery unit of Samsung, will acquire General Motors' 49.99% stake in their Indiana-based joint venture.
The company cited weaker-than-expected electric vehicle demand as the primary reason for ending the partnership.
This acquisition gives Samsung SDI full control of the manufacturing facility following a construction slowdown.
Samsung SDI plans to use the facility for both electric vehicles and energy storage systems (ESS).
The company has not yet finalized specific investment plans for the wholly-owned unit.
Both firms will continue collaborating through a separate agreement to develop next-generation prismatic batteries.