GM to sell its stake in Michigan battery plant to LG Energy Solution

American automaker to recoup $1bn investment in Lansing facility

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General Motors' headquarters in Detroit, Michigan. The automaker said it will sell its stake in a joint-venture battery plant to partner LG Energy Solution. © Reuters

WASHINGTON, (Reuters) -- General Motors GM.N said Monday it will sell its stake in its joint venture battery plant in Lansing, Michigan, to partner LG Energy Solutionas the Detroit automaker trims its electric-vehicle plans.

GM expects to recoup its investment in the facility, which a person briefed on the matter said is about $1 billion.

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