Stellantis and LG Energy to Invest $4.1 Bn in JV for First Large-scale Li-ion Battery Production Plant in Canada

Stellantis N.V. and LG Energy Solution (LGES) announced they have executed binding, definitive agreements to establish the first large-scale, domestic, electric-vehicle battery manufacturing facility in Canada.

March 24, 2022. By News Bureau

Stellantis N.V. and LG Energy Solution (LGES) announced they have executed binding, definitive agreements to establish the first large-scale, domestic, electric-vehicle battery manufacturing facility in Canada.

The joint venture company will produce leading edge lithium-ion battery cells and modules to meet a significant portion of Stellantis' vehicle production requirements in North America.

The joint venture company will invest more than $5 billion CAD to establish operations, which will include an all-new battery manufacturing plant located in Windsor, Ontario, Canada. Plant construction activities are scheduled to begin later this year, with production operations planned to launch in the first quarter of 2024.

The plant aims to have an annual production capacity in excess of 45 gigawatt hours (GWh) and will create an estimated 2,500 new jobs in Windsor and the surrounding areas.

Each of the municipal, provincial and federal levels of the Canadian government have agreed to fully support the successful operation of the joint venture company.

With the battery manufacturing plant located in Windsor, Ontario, home to Canada's largest automotive cluster, Stellantis and LGES expect the plant to serve as a catalyst for the establishment of a strong battery supply chain in the region. 

Canada is committed to establishing a broad, local battery ecosystem by leveraging, among other things, its leadership in the generation of electricity from renewable sources.

"Our joint venture with LG Energy Solution is yet another stepping stone to achieving our aggressive electrification road map in the region, aimed at hitting 50% of battery-electric vehicle sales in the U.S. and Canada by the end of the decade," said Carlos Tavares, Stellantis CEO. 

"Through this joint venture, LG Energy Solution will be able to position itself as a critical player in building green energy value chains in the region," said Youngsoo Kwon, CEO of LG Energy Solution. 

Please share! Email Buffer Digg Facebook Google LinkedIn Pinterest Reddit Twitter
If you want to cooperate with us and would like to reuse some of our content,
please contact: contact@energetica-india.net.
 
 
Next events
 
 
Last interviews
 
Follow us