LG Energy Solution to acquire EV battery plant in Michigan from General Motors.

LG Energy Solution, a Korean battery maker, agreed to acquire EV battery plant in Michigan from General Motors, an American multinational corporation designing, manufacturing and distributing vehicles and vehicle parts. Financial terms were not disclosed. "Our EV profitability is rapidly improving thanks in part to our strategic decision to build battery cells in the U.S. with LG Energy Solution. It will be years before some of our competitors approach this level of performance. We believe we have the right cell and manufacturing capabilities in place to grow with the EV market in a capital efficient manner. When completed, this transaction will also help LG Energy Solution meet demand by leveraging capacity that's nearly ready to come online and it will make GM even more efficient,"  Paul Jacobson, General Motors Executive Vice President and CFO.