The Clap
General Motors (NYSE:GM) and LG Energy Solution suspended plans to build a fourth battery cell plant in the US, with both companies failing to strike an agreement.
What
LG will not be going through with the project given the uncertain macroeconomic environment and the company’s other investments with other automakers.
So What
It is crucial that GM and LG continue building a strong relationship if GM is to challenge Tesla for its position as the leader in the EV market.
Now What
Despite suspending the project, GM still plans to build a battery cell plant but is searching for a different partner.
