DETROIT: General Motors (GM) on Monday announced plans to sell its stake in the nearly finished Ultium Cells battery plant in Lansing, Michigan, to its partner LG Energy Solution. The agreement is still non-binding and is expected to close in the first quarter of 2025, pending standard approvals, the Detroit carmaker said in a statement. GM stated that the sale would enable it to recover its investment in the facility. According to Anadolu Agency, the move will not affect GM's ownership interest in Ultium Cells LLC, and it will continue to leverage other plants in Warren, Ohio, and Spring Hill, Tennessee, to meet the growing demand for its electric vehicles. LG Energy Solution will immediately take control of the Lansing plant and begin installing equipment. The plant, which currently employs around 100 people, remains on track to meet its hiring goals. Paul Jacobson, GM's executive vice president, commented on the development, saying: "We believe we have the right cell and manufacturing capabilities in pla ce 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."