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GM to sell stake in battery cell plant to joint venture partner for roughly $1 billion - TL;DR CNBC

GM to sell stake in battery cell plant to joint venture partner for roughly $1 billion

Publishing timestamp: 2024-12-02 17:53:11


Summary

General Motors plans to sell its stake in a $2.6 billion electric vehicle battery cell plant in Michigan to its joint venture partner LG Energy Solution. The sale is part of a nonbinding agreement and is expected to close in the first quarter of next year. GM also announced an extension of its battery technology partnership with LGES to include the development of prismatic cells.


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Tickers: GM

Keywords: businessgeneral motors copaul jacobsondonald trumpbreaking news: technologybusiness newsmichigantechnologytransportationautosbreaking news: business

Source: https://www.cnbc.com/2024/12/02/gm-battery-cell-plant-lg.html


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