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The deal should eventually boost the carmaker’s slowing energy storage business.

Battery material makers’ stocks climbed as the U.S. set to impose preliminary antidumping duties of 93.5% on graphite imports from China.

The Commerce Department imposed preliminary antidumping duties of 93.5% on Chinese imports of graphite, a key battery component.

General Motors and LG Energy Solution plan to add more battery production lines at their joint venture plant in Tennessee to make lower-cost cells starting in late 2027, the companies said.

The U.S. Commerce Department set the stage for anti-subsidy duties on imports of key battery components from China, after concluding materials had been unfairly subsidized.

Toyota has agreed to shift a $1.5 billion order with LG Energy Solution to bolster operations at a Michigan battery plant after General Motors backed out of the project.

Battery maker LG Energy Solution said it will make major cuts to spending this year, though it expects a rebound in sales, as major uncertainties hang over the global electric vehicle sector.

China plans to tighten export restrictions on certain technology used to make battery components and the processing of two crucial metals amid rising trade tensions globally.

Shipments of lithium-ion batteries to the U.S. jumped by 27% to $1.9 billion in November from a year earlier. The export tax rebate for batteries was cut to 9% from 13%.

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