With the construction of the Ultium Cells LLC battery cell plant in Lansing nearly finished, General Motors announced it will sell back its stake to its joint venture partner LG Energy Solution.
According to a news release, the transaction does not change GM’s ownership interest in the Ultium Cells LLC project, in which GM and LG have invested a total of $7 billion U.S. taxpayer dollars, sourced from a Department of Energy loan program.
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For much of the post-World War II era, America has been expected by many of its citizens to be a benevolent King Midas to the rest of the world. We have attained unprecedented levels of prosperity, and we are expected to share that with anyone seeking to improve their conditions.
While such philanthropy may cause hearts to swell with good feelings, it often comes at a steep price. At a time when America is showing all the characteristics of an empire in decline, that price has now become a crippling burden.
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