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LG Energy Solution fully acquires GM’s stake in Michigan battery plant for $2.1B

LG Energy Solution has fully acquired General Motor’s stake in a battery cell manufacturing plant in Lansing, Michigan. The US $2.1-billion acquisition of Ultium Cells Lansing facility was aimed at maximizing efficiency and enhancing production capabilities in North America, LG Energy Solution said in a statement.

LG Energy Solution will operate two facilities in Michigan. The Lansing facility, which began construction in 2022, is expected to begin operations this year.

In total, LG Energy Solution operates eight manufacturing plants in North America, three of which are joint ventures with Stellantis, Honda and Hyundai.

GM announced it would sell its stake in the joint venture battery plant a month after Trump won the November election. GM continues to operate battery plants with LG Energy Solution in Ohio and Tennessee.

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