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Éric Descarries
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Energy Solutions buys GM battery plant in Lansing
Éric Descarries
Hits: 65
General Motors announced last December that it would sell its stakes in the Ultium Cells LLC battery plant in Lansing, Michigan, to LG Energy Solution. The latter has now officially confirmed that it will purchase the plant for approximately US$2.03 billion, according to the newspaper The Korea Times. The transaction is expected to be finalized on May 31.
According to LG Energy Solution representatives, the full acquisition of the Lansing plant aligns with the company’s objectives, making the joint venture investment less costly since no additional investment in new buildings will be required.
Moreover, this sale will not affect GM’s interest in the Ultium Cells LLC agreement with LG Energy Solution, which will remain the source of batteries for its new electric vehicles.
(Photo GM)
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