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GM And LG Shelve 4th US Battery Plant

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GM And LG Shelve 4th US Battery Plant

Like a personal ad from the most expensive dating service imaginable, General Motors is seeking a new partner after LG canceled plans to co-build a 4th battery plant in the US.

The $2.3B Ohio plant was announced in 2019. LG Energy execs in Korea got cold feet due to the project's rapid pace and uncertain macroeconomic outlooks.

GM says the relationship with LG and the other 3 plants is crucial to the company's future plans - including beating Tesla and producing 1M EVs a year by 2025.

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