South Korea’s leading battery maker, LG Energy Solution, has decided to purchase General Motors’ stake in their joint venture battery factory in the U.S. state of Michigan. 

GM said in a press release on Monday that it has decided to sell its stake in the electric vehicle battery plant in Lansing, Michigan, to LG Energy Solution. 

The U.S. automaker said the two sides have reached a nonbinding agreement on the sale. 

The nearly completed factory is being developed by their joint venture, Ultium Cells.

Reuters reported that GM, which has invested about one billion dollars into the Lansing factory, expects to recoup its investment.

The two companies expect to close the sale by the end of March.