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Stellantis, LG Energy Form $4.1 Billion Battery Joint Venture in Canada

  • Stellantis, LG pick Windsor for EV battery plant joint venture
  • South Korean company to also build Arizona battery plant
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LG Energy Solution and Stellantis NV said they will invest more than $4.1 billion in a joint venture to build a new electric-vehicle battery plant in Windsor, Canada.

The 45 gigawatt-hour plant, which is expected to begin operations in 2025, will create 2,500 jobs and supply Stellantis’s assembly plant in Windsor and others across North America, the companies said in a statement Wednesday. The South Korean battery maker will invest about $1.5 billion and own 51% of the venture, it disclosed in a filing in Korea earlier Wednesday. Stellantis will control 49%, the automaker said.