GM to sell stake in battery cell plant to joint venture partner for roughly $1 billion
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General Motors (GM) plans to sell its stake in a $2.6 billion electric vehicle battery cell plant in Lansing, Michigan, to its joint venture partner LG Energy Solution for approximately $1 billion. This move allows GM to recoup its investment in the facility.
December 02, 2024 | 9:30 pm
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General Motors is selling its stake in a $2.6 billion battery cell plant to LG Energy Solution for about $1 billion, allowing GM to recoup its investment.
The sale of GM's stake in the battery plant to LG Energy Solution for $1 billion is a significant financial move, allowing GM to recoup its investment. This could positively impact GM's financials in the short term, as it strengthens its cash position.
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