GM Sells Lansing Battery Plant Stake to LG for $1B

In a strategic power move, General Motors is offloading its $1 billion stake in the nearly complete $2.6 billion Lansing, Michigan EV battery plant to LG Energy Solution. The non-binding agreement, set to close by Q1 2025, shifts full ownership to LG, which plans to employ up to 1,700 workers once the 2.8M sq ft facility is operational. GM aims to recoup its investment and pivot towards prismatic battery tech with LG, all while navigating sluggish 2024 EV sales and ever-changing federal subsidies. A sensible shuffle in the electric race, keeping both companies charged for the future.