GM To Sell Its More Than $2 Billion Stake in EV Battery Plant to Partner LG Energy Solution

General Motors announced plans to sell its more than $2 billion stake in an electric vehicle battery plant to its joint venture partner LG Energy Solution. The automaker expects to recover approximately $1 billion from its investment in the Lansing facility. GM CFO Paul Jacobson stated that the company has the necessary cell and manufacturing capabilities to grow with the EV market efficiently, and the sale will enhance LG Energy Solution's ability to meet demand. LG Energy Solution will gain immediate access to the Lansing facility, which is expected to begin operations by the end of the year.