07:58 AM EDT, 04/01/2025 (MT Newswires) -- General Motors' ( GM ) battery plant joint venture in Michigan will be acquired by its partner LG Energy Solution Michigan for about $2.08 billion, LG Energy Solution said in a filing Tuesday.

The transaction, expected to close on May 31, will involve all assets related to Ultium Cells' third plant in Michigan, according to the filing.

Ultium Cells, a joint venture of General Motors ( GM ) and LG Energy Solution, has two other battery plants in Ohio and Tennessee.

General Motors ( GM ) said in December that the transaction will not change its ownership interest in Ultium Cells while it will allow LG Energy Solution to begin installing equipment at the facility.