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Photo = Yonhap news |
[Alpha Biz= Kim Jisun] LG Energy Solution announced on Tuesday that it will acquire the third Ultium Cells plant in Michigan, which it had been jointly building with General Motors (GM).
The purchase price is approximately 3 trillion KRW based on the book value. LG Energy Solution had initially planned to produce batteries at this plant and supply them to GM.
However, due to GM's decision to scale back its electric vehicle production plans, the company has decided to sell its stake in the plant to LG Energy Solution.
This move by LG Energy Solution is being interpreted as part of a "rebalancing" strategy aimed at overcoming the current temporary demand stagnation (or "chasm") in the global electric vehicle market.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
