EV Battery | Stellantis and LGES Battery JV Begins Production of Battery Modules in Canada

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EV Battery | Stellantis and LGES Battery JV Begins Production of Battery Modules in Canada

Date：2024-10-26

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Keyword tags： LiB NA Stellantis LGES

On October 23rd, LG Energy Solution and Stellantis announced that their battery joint venture, NextStar Energy, has officially commenced the production of battery modules in Ontario, Canada, marking a significant milestone in their business growth.

NextStar Energy, in which LGES holds a 51% stake, began construction of its battery plant in 2022. In addition to producing battery modules, the next and final phase of operations for the plant will involve cell manufacturing. Mass production of battery cells is scheduled to begin in the first half of 2025, following the completion of the plant construction, to supply electric vehicle batteries for Stellantis' automotive brands such as Jeep and Chrysler.

The nameplate annual production capacity of the NextStar Energy plant is 49.5 gigawatt-hours, sufficient to power 450,000 vehicles per year. The plant has already hired 450 local employees, with plans to increase to 2,500 local jobs upon full production.

LGES and Stellantis plan to develop the joint venture plant into a core base for their expansion in the North American electric vehicle and battery sectors. "The two companies aim to lead and innovate the North American battery industry based on world-class battery expertise and trust," said NextStar CEO Danies Lee.

LGES is currently operating and constructing eight battery factories in North America, two of which are wholly owned by LGES, and the other six are joint ventures with major automakers such as General Motors, Hyundai Motor, and Honda Motor etc. Additionally, LGES also operates or is constructing battery factories in countries like South Korea, Poland, China, and Indonesia.

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