SEOUL—South Korea’s LG Energy Solution (LGES) plans to spend $2.1 billion with General Motors to build a U.S. electric vehicle (EV) battery plant, parent firm LG Chem said on Tuesday.
LGES and GM are expected to fund the project equally via Ultium Cells, their U.S.-based battery joint venture, for what will be their third joint battery plant in the United States, LG Chem’s regulatory filings showed.
