General Motors has reached an agreement to sell its stake in the nearly completed Ultium Cells battery cell plant in Lansing, Michigan, to its joint-venture partner LG Energy Solution. The transaction is expected to close in the first quarter of 2025.
The cells produced at the plant power GM’s latest EVs, including the Chevrolet Silverado EV, GMC Sierra EV, Cadillac Lyriq, Chevrolet Blazer EV, Chevrolet Equinox EV, and the GMC Hummer EV Pickup and SUV.
The new agreement does not change GM’s ownership interest in Ultium Cells. GM will continue to leverage the plants in Warren, Ohio, and Spring Hill, Tennessee, to meet growing demand for its electric vehicles. LG Energy Solution will have immediate access to the Lansing facility to begin the installation of equipment.
Ultium Cells Lansing has nearly 100 employees and remains on track to meet its previously announced employment commitments. “Our EV profitability is rapidly improving thanks in part to our strategic decision to build battery cells in the US with LG Energy Solution. It will be years before some of our competitors approach this level of performance,” said Paul Jacobson, GM executive vice president and CFO. “Ultium Cells has created thousands of jobs in the USA through its plants in Ohio and Tennessee.
