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Earlier this week, General Motors (NYSE: GM) announced it is selling its stake in a battery plant to its partner LG Energy Solution. Some interpret this as another sign GM is pulling back on EVs, but that's not the case. In this video, Travis Hoium shows why this is a simple business model shift from GM and makes a lot of sense for the company's strategy long-term.

*Stock prices used were end-of-day prices of Dec. 2, 2024. The video was published on Dec. 3, 2024.

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Travis Hoium has positions in General Motors. The Motley Fool has positions in and recommends Tesla. The Motley Fool recommends General Motors and recommends the following options: long January 2025 $25 calls on General Motors. The Motley Fool has a disclosure policy. Travis Hoium is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.