Who owns Ultium Cells Holdings LLC

Ultium Cells Holdings LLC - Profile

Ultium Cells is the battery manufacturing joint venture of General Motors and the South Korean cell maker LG Energy Solution, announced in 2019 and built to supply lithium ion cells for GM's electric vehicles in North America. LG Energy Solution supplies the cell chemistry and manufacturing know how and GM supplies the demand, the pack engineering and much of the capital. It makes large format pouch cells using nickel cobalt manganese aluminium chemistry, and the United States Department of Energy closed a 2.5 billion dollar Advanced Technology Vehicles Manufacturing loan in late 2022 to finance three plants at Lordstown, Ohio, Spring Hill, Tennessee and Lansing, Michigan. GM sold its share of the unfinished Lansing plant to LG Energy Solution for about 2.03 billion dollars in May 2025. As electric vehicle demand softened, the venture retooled Spring Hill in 2026 with a 70 million dollar investment to build lithium iron phosphate cells for stationary energy storage, while the Ohio plant restarted cell output in August 2026 after a seven month pause.

The disclosed stakes

One row per position. Where a holder reports the same company in two share classes, both rows are shown rather than summed, because the class is part of a position's identity.

Where each figure comes from

A private stake has no ownership form behind it, so the source is always the holder's own filing or disclosure. Anything modelled says so, with the arithmetic.

• General Motors Company, as of 31 Dec 2025. FY2025 10-K Note 7 (Equity in Net Assets of Nonconsolidated Affiliates): 'Investments in Nonconsolidated Affiliates ... Ultium Cells Holdings LLC carrying amount $2,355' (millions, at 31 Dec 2025, down from $3,749 million at 31 Dec 2024). The FY2025 10-K text describes it as 'an equally owned joint venture with LG Energy Solution (LGES)', i.e. 50%, and equity earnings from it are folded into Automotive and other cost of sales rather than the Equity income line because the entity is integral to GM's EV operations. GM's Q2 2026 10-Q Note 7 confirms Ultium Cells is still an active nonconsolidated affiliate (its equity income/loss is embedded in the 'Other joint ventures equity income (loss)' line, footnoted as including Ultium Cells) and that total equity in net assets of nonconsolidated affiliates was $5,663 million at 30 Jun 2026 (down slightly from $5,681 million at 31 Dec 2025), but the Q2 2026 10-Q does not republish the individually sized carrying-value breakdown, so 31 Dec 2025 is the most recent individually sized figure for this JV specifically. sourcesource 2