Toyota Places $1.5B Order to Revive Michigan EV Battery Plant

The automaker steps in to support LG Energy Solution after General Motors exits the Lansing facility project.

Toyota has agreed to transfer a $1.5 billion order for EV batteries to LG Energy Solution's Michigan plant in Lansing, following General Motors' withdrawal from the project.
General Motors announced in December it would sell its stake in the Lansing plant, which was originally part of its Ultium Cells joint venture with LG.
LG Energy Solution plans to fully acquire the Lansing facility this spring, enabling Toyota's order to support the plant's operations.
The shift comes as automakers, including GM and Ford, scale back EV plans due to changing government policies and reduced subsidies for electric vehicles.
Toyota's investment aligns with its broader EV strategy, including the upcoming launch of its North Carolina battery plant, set to begin production in April.