The joint venture between Stellantis and LG Energy Solution will invest over $4.1 billion to establish operations, which will include an all-new battery manufacturing plant located in Windsor, Ontario, Canada.
View PhotosStellantis plans to have global annual BEV sales of five million vehicles by 2030.
Stellantis and LG Energy Solution (LGES) have announced definitive agreements to establish the first large-scale, domestic, electric vehicle battery manufacturing facility in Canada. The joint venture company will produce lithium-ion battery cells and modules to meet a significant portion of Stellantis’ vehicle production requirements in North America, including the upcoming new electric products from the Jeep brand. The joint venture company will invest over $ 4.1 billion 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.
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“Our joint venture with LG Energy Solution is yet another stepping stone to achieving our aggressive electrification roadmap in the region aimed at hitting 50% of battery electric vehicle sales in the US and Canada by the end of the decade,” said Carlos Tavares, Stellantis CEO. “We are grateful to the Municipal, Provincial, and Federal levels of government for their support and commitment to help position Canada as a North American leader in the production of electric vehicle batteries.”
The tail end of the Jeep’s EV
The plant aims to have an annual production capacity of more than 45-gigawatt hours (GWh) and will create an estimated 2,500 new jobs in Windsor and the surrounding areas. Stellantis and LGES expect the plant to serve as a catalyst for the establishment of a strong battery supply chain in the region. LG Energy Solution, with this latest announcement, has now solidly secured a production capacity of over 200 GWh in North America annually, translating into the production of 2.5 million high-performance electric vehicles.
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“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. “Creating a joint venture battery manufacturing company in Canada, recognised as one of the leading nations in renewable energy resources, is key for LG Energy Solution as we aim to power more electric vehicles around the world.”
Stellantis aims at hitting 50 per cent of battery electric vehicle sales in the US and Canada by the end of the decade.
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As part of the Dare Forward 2030 strategic plan, Stellantis announced plans to have global annual battery electric vehicle sales of five million vehicles by 2030, reaching 100 per cent of passenger car BEV sales mix in Europe and 50 per cent passenger car and light-duty truck BEV sales mix in North America. Stellantis also increased planned battery capacity by 140 GWh to approximately 400 GWh, to be supported by five battery manufacturing plants together with additional supply contracts.
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