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GM offloads one of its battery factories to joint venture partner LGES
General Motors is selling its stake in the nearly completed Ultium Cells battery cell plant in Lansing, Michigan to its joint venture partner LG Energy
GM’s step back from the factory comes amid weakening electric vehicle demand and the potential rollback of Biden administration incentives to produce clean energy domestically. LGES did not respond in time to TechCrunch to confirm if that timeline is still accurate, nor whether the company still expects the plant’s capacity to reach 45 GWh at peak production. Levy declined to share whether those cells would be produced at one of the remaining joint venture sites, or if they’ll be manufactured in a yet-to-be-announced facility.
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