Toyota Motor Corp. has agreed to shift a $1.5 billion order with LG Energy Solution to bolster operations at a Michigan battery plant after General Motors Co. backed out of the project, according to people familiar with the matter.

Toyota to the rescue! This gigantic Japanese automaker is shifting a $1.5 billion battery order it had placed with LG Energy Solution from one facility to another manufacturing plant in Michigan after GM pulled out of a deal it had made with the battery supplier.

Toyota Motor has agreed to transfer its order for LG Energy Solution vehicle batteries to a Michigan plant that General Motors is exiting, the Japanese automaker confirmed Tuesday.

Toyota Motor has agreed to redirect a $1.5bn order to LG Energy Solution (LGES) to support operations at the Ultium Cells battery cell plant in Lansing, Michigan in the US, reported Bloomberg citing people familiar with the matter.

Toyota plans to shift a $1.5 billion order to an LG Energy Solution battery factory in Michigan to help keep it afloat after General Motors backed out of the project, Automotive News reported Wednesday.

Now that General Motors has sold its stake in the almost completed battery cell factory in Lansing to its joint venture partner LG Energy Solution, there is a

General Motors sure pulled a fast one on Michigan. In 2022, when EVs were riding high and Biden was in office, GM and LG Energy Solution announced a $2.6 billion Ultium cells battery factory in Lansing. GM soaked up the good press, bragging about “strengthening our Michigan and U.S. manufacturing presence” and promising 1,700 new jobs.

LG Energy Solution is teaming up with Toyota to use the former Ultium Lansing battery plant to build high-nickel NCMA battery modules for future Toyota EVs.

Toyota Motor Corp. has agreed to shift a $1.5 billion order with LG Energy Solution to bolster operations at a Michigan battery plant after General Motors Co. backed out of the project, according to people familiar with the matter.