Toyota Motor Corp. shifts $1.5 billion order to LG New Energy Battery Plant, which GM exits

Toyota Motor Corporation has reportedly agreed to transfer its $1.5 billion order from LG Energy Solution to the Lansing, Michigan battery plant that General Motors has exited. The plant was originally jointly owned by General Motors and LG Energy Solution, but GM decided to sell its stake in the plant in December last year, causing LG Energy Solution to need to find new customers. Now, Toyota Motor Corporation has decided to transfer their orders to this plant, which is expected to start production in the near future.