The global automotive giant is selling its factory.

It was stated in a statement from General Motors (GM) that an agreement has been reached for the sale of its shares in the nearly completed Ultium Cells battery cell facility in Lansing, Michigan, to joint venture partner LG Energy Solution.

The statement indicated that the purchase is expected to be completed in the first quarter of 2025, and it was noted that the transaction does not change GM's ownership stake in Ultium Cells.

THERE ARE 100 EMPLOYEES IN THE FACTORY

The statement mentioned that GM will continue to utilize the Ultium Cells facilities in Ohio and Tennessee to meet the increasing demand for its electric vehicles, and that LG Energy Solution will have access to the nearly completed Lansing facility to begin equipment installation.

The statement pointed out that Ultium Cells Lansing currently has approximately 100 employees, emphasizing that the company is making progress in fulfilling its previously announced employment commitments.