GM Sells Stake in Michigan EV Battery Plant to LG Energy Solution

The $1 billion deal will see LG Energy take full ownership of the Lansing facility, while GM shifts focus to optimizing its existing battery operations.

General Motors has agreed to sell its stake in the nearly completed Lansing, Michigan, EV battery plant to joint venture partner LG Energy Solution for approximately $1 billion.
The sale will not impact GM's ownership in the broader Ultium Cells joint venture, which also operates battery plants in Ohio and Tennessee.
LG Energy Solution plans to use the Lansing facility to supply batteries for an undisclosed third-party automaker, with equipment installation expected to begin immediately.
GM and LG Energy also announced an extension of their 14-year partnership to develop prismatic battery cells, which offer higher energy density and cost efficiency compared to existing pouch cells.
The transaction reflects GM's strategic adjustment to align EV production capacity with current market demand, as the company focuses on streamlining operations and improving EV profitability.