LGES plans to acquire GM's joint venture battery plant in Michigan

South Korean battery company LGES announced plans to acquire all of General Motors' shares in its joint venture battery factory in Michigan for 3 trillion won (about 14.8 billion yuan). In December last year, General Motors announced that it had reached a preliminary agreement with LGES to sell its shares in the Ultium Cells battery factory that was about to be completed in Lansing, Michigan to LGES.