GM sells its stake in a Michigan EV battery plant to LG Energy Solution, recouping $1 billion investment.

General Motors (GM) has agreed to sell its stake in a nearly completed electric vehicle (EV) battery plant in Lansing, Michigan, to its partner LG Energy Solution, expected to close by March. GM will recoup its $1 billion investment and continue to operate battery plants in Ohio and Tennessee. The sale allows GM to focus on its current EV models and develop prismatic cells with LG for future vehicles, aiming to reduce costs and weights.

December 02, 2024
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