GM Sells Lansing Battery Plant Stake to LG, Strengthens Partnership
TL;DR Summary
General Motors is selling its stake in the Ultium Cells battery plant in Lansing to LG Energy Solution, aiming to recoup $1 billion and improve capital efficiency in its electric vehicle operations. This move does not affect GM's ownership in other Ultium battery plants or its joint venture with Samsung SDI. The Lansing plant, expected to open in late 2024, will be used by LG to meet new customer demands. GM and LG are also extending their partnership to develop prismatic cell technology.
Topics:top-news#battery-technology#business#electric-vehicles#general-motors#lg-energy-solution#ultium-cells
- GM sells stake in Ultium Lansing battery plant to partner LG Energy Solution Detroit News
- GM to Exit Michigan EV Battery Plant The Wall Street Journal
- GM, LG extend battery partnership to develop prismatic cells in Warren, other states WDIV ClickOnDetroit
- GM to sell its stake in Lansing battery cell plant to partner LG Energy Solution Detroit Free Press
- GM Sells Part of EV Battery Plant. Focus on the Cash. Barron's
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