General Motors has reached an agreement to sell its stake in a nearly completed electric vehicle battery plant in Lansing, Michigan.
New vehicle sales in the U.S. rose 5.1% from January through March, as buyers stayed in the market despite high interest rates.
Tesla sales fell sharply last quarter as competition increased worldwide, electric vehicle sales growth slowed, and price cuts failed to draw more buyers.
The venture capital arms of General Motors and Stellantis are among investors sinking $33 million into a Minnesota company with technology to make magnets for electric vehicle motors without using expensive rare-earth metals.
Stellantis says it plans to invest about 1.5 billion euros, or about $1.6 billion, in Leapmotor, a Chinese electric vehicle manufacturer.
