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GM to sell its stake in Michigan battery plant to LG Energy Solution

  • General Motors has agreed to sell its stake in a nearly completed electric vehicle battery plant in Lansing, Michigan to LG Energy Solution of South Korea.
  • The sale is expected to close by the end of March, and GM expects to recoup its $1 billion investment.
  • GM and LG will jointly develop prismatic battery cells, which store more energy and reduce battery sizes, weight, and cost compared to current pouch cells.
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