General Motors has reached an agreement to sell its stake in a nearly completed electric vehicle battery plant in Lansing, Michigan

General Motors said on Monday it will sell its stake in its joint venture battery plant in Lansing, Michigan to partner LG Energy Solution as the Detroit automaker trims its electric vehicle plans. GM expects to recoup its investment in the facility,

In separate announcements, GM said it planned to sell its stake in a Michigan joint-venture battery factory to LG, while the companies also agreed to a continued technical partnership for development of prismatic cells.