LG Energy Solution unit to pay $2 billion for Michigan battery venture with GM

Quick Summary:

SEOUL :South Korea's LG Energy Solution said on Tuesday that its U.S.unit will acquire the assets held by its Michigan electric vehicle battery venture with General Motors for $2 billion.

The value of the deal, set to close on May 31, could change after due diligence, the EV battery maker said in a filing.

LG and GM have two other U.S.battery plant joint ventures operating in Ohio and Tennessee.

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Article Details

Category: EconomyBusiness

Markets: SingaporeSouth Korea

Topics: Plant Mediacorp Photo: Energy File General Michigan Solution Motors Battery Experience

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-01 @ 14:45:21 (2 days ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 210 words

Reading Time: 2 minutes read

Sentences: 11 lines

Sentence Length: 20 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 27508769

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