GM Sells Ultium Cell Stake
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Ultium Cells battery cell plantTechCrunch
•GM offloads one of its battery factories to joint venture partner LGES | TechCrunch
81% Informative
General Motors is selling its stake in the nearly completed Ultium Cells battery cell plant in Michigan to LG Energy Solution .
GM and LGES initially teamed up in 2019 to form a joint venture to mass produce battery cells for electric vehicles.
The move comes amid weakening electric vehicle demand and the potential rollback of Biden administration incentives to produce clean energy domestically.
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