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

The company said Monday that it has a nonbinding agreement for the sale to joint venture partner LG Energy Solution of South Korea. The companies expect to close the sale by the end of March.

Financial details were not released Monday. But GM, which has sunk about $1 billion into the Lansing factory, said it expects to recoup its investment.