GM's battery partnership with LG Chem will have 2 major benefits as the company begins the transition to electric vehicles

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On Thursday, General Motors and LG Chem announced that they will split ownership of a battery production joint venture.

On Thursday, General Motors and LG Chem announced that they will split ownership of a battery-production joint venture. Demand for batteries is set to rise dramatically over the next decade as automakers increase electric-vehicle production. GM may have opted for a joint venture over merely continuing to buy batteries from LG Chem because it wanted to have more control over its battery supply, said David Whiston, an industrials analyst at Morningstar.

On Thursday, General Motors and LG Chem announced that they will split ownership of a battery-production joint venture. Demand for batteries is set to rise dramatically over the next decade as automakers increase electric-vehicle production. GM may have opted for a joint venture over merely continuing to buy batteries from LG Chem because it wanted to have more control over its battery supply, said David Whiston, an industrials analyst at Morningstar.

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