GM sells stake in EV battery plant and deepens ties to LG
General Motors is selling its stake in a new battery plant that was built with government incentives. Why it matters: GM partners with South Korean battery giant LG Energy Solution through a joint venture called Ultium Cells, which currently produces batteries at factories in Warren, Ohio and Spring Hill, Tennessee.
GM sells stake in Ultium Lansing battery plant to partner LG Energy Solution
GM made the announcement amid a push by executives to be more capital-efficient and make its electric vehicles profitable.
GM to Sell Its Stake in Michigan EV Battery Plant to LG Energy
General Motors Co. is selling its stake in an electric-vehicle battery plant in Lansing, Michigan, to South Korean partner LG Energy Solution, recouping about $1 billion in investment from a facility that will still supply energy cells to the automaker’s EVs.
G.M. Will Sell Stake in E.V. Battery Plant to Its Partner LG
LG Energy Solution will now solely own a factory in Michigan that it had planned to operate through a joint venture with General Motors.
General Motors to Sell Its Stake in Lansing, Michigan, Battery Factory to LG Energy Solution
General Motors has reached an agreement to sell its stake in a nearly completed electric vehicle battery plant in Lansing, Michigan
GM to sell its stake in Michigan battery plant to LG Energy Solution
General Motors said Monday it will sell its stake in its joint venture battery plant in Lansing, Michigan, to partner LG Energy Solution as the Detroit automaker trims its electric vehicle plans. GM expects to recoup its investment in the facility,
GM offloads one of its battery factories to joint venture partner LGES
General Motors is selling its stake in the nearly completed Ultium Cells battery cell plant in Lansing, Michigan to its joint venture partner LG Energy Solution. GM’s step back from the factory comes amid weakening electric vehicle demand and the potential rollback of Biden administration incentives to produce clean energy domestically.
GM to sell stake in battery cell plant to joint venture partner for roughly $1 billion
General Motors plans to sell its stake in a $2.6 billion electric vehicle battery cell plant in Michigan to its joint venture partner LG Energy Solution.
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