GM, LG Energy shelve plans for fourth U.S. battery factory, WSJ reports
The Fly

GM, LG Energy shelve plans for fourth U.S. battery factory, WSJ reports

General Motors and Korean battery supplier LG Energy Solution have indefinitely shelved plans for what would have been the fourth U.S. battery plant to be developed by the companies through their 50-50 joint venture, Ultium Cells, reported The Wall Street Journal’s Mike Colias and River Davis, citing people familiar with the matter. GM is in discussions with at least one other battery supplier to proceed with an added U.S. battery-cell factory, some sources said, according to the report. GM said, "We’ve been very clear that our plan includes investing in a fourth U.S. cell plant," but declined to discuss specifics, Colias and Davis noted. Reference Link

Published first on TheFly

See the top stocks recommended by analysts >>

Read More on GM:

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App