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GM Offloads Michigan Battery Plant Stake to LG Energy
General Motors Strikes Deal To Offload Battery Plant Stake To LG
General Motors (GM) announced Monday a shift in its electric vehicle (EV) strategy by agreeing to sell its share of
GM offloads its stake in EV battery factory 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 To Sell Its More Than $2 Billion Stake in EV Battery Plant to Partner LG Energy Solution
General Motors announced plans to sell its more than $2 billion stake in an electric vehicle battery plant to its joint venture partner LG Energy Solution. The automaker expects to recover approximately $1 billion from its investment in the Lansing facility.
China, General Motors
General Motors is taking a $5 billion-plus hit on its operations in China
GM said it would write down the value of its joint venture with China's SAIC Motors by as much as $2.9 billion and incur restructuring charges.
Why General Motors Just Took A $5 Billion Hit In China
GM has lost money in China for three consecutive quarters, with its sales in the country falling 18 percent in the first nine months of the year to 1.2 million vehicles. SAIC-GM, which builds Chevrolet, Buick and Cadillac vehicles, is one of two joint ventures for the automaker in China.
GM Sees $5 Billion Hit to Revamp Its Troubled China Business
General Motors Co. will incur more than $5 billion in charges and writedowns tied to its troubled operations in China as the automaker tries to salvage its once-profitable business in the world’s largest car market.
6h
on MSN
GM and EVgo now have over 2,000 EV charging stalls and counting
General Motors and EV charging company EVgo announced that they’ve installed their 2,000th public EV charging stall, in ...
Hosted on MSN
9h
General Motors recalls over 132,000 trucks due to tailgate unlatching concerns
The recall impacts select 2024 Chevrolet Silverado HD 2500, 3500, and GMC Sierra HD 2500, 3500 models with power-unlatching ...
2h
on MSN
The Honda Prologue Is On A Roll After Becoming GM’s Best-Selling EV In Q3
The electric Prologue set a new monthly sales record in November, delivering 6,823 units and bringing its total for the year ...
American Machinist
20h
GM, LG Pursuing New EV Battery Format
The joint-venture partners are extending their electric-vehicle battery collaboration to include a space-efficient, ...
MT Newswires on MSN
1d
GM's Decision to Sell Ultium Cells Plant Stake Indicates Potential Slowdown in EV Sales, UBS Says
General Motors' (GM) decision to sell its stake in the Ultium Cells battery cell plant in Michigan is a capital efficiency move for the automaker and a potential sign of cooling electric vehicle ...
24/7 Wall St. on MSN
1d
GM’s Rapid Retreat From EV Market Gains Speed
Key Points General Motors Co. (NYSE: GM) has pulled out of one of its largest EV initiatives. GM saves some money now, but ...
Electrek
10h
GM sees $5 billion impact from restructuring in China
As it struggles to keep up with low-cost rivals like BYD, GM expects to suffer a $5 billion blow to its business in China.
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