LG Energy, Stellantis’ EV battery JV in Canada mass-produces modules

Quick Summary:

LG Energy Solution Ltd., the world’s third-largest electric vehicle battery manufacturer, said on Wednesday its joint venture in Canada with multinational automaker Stellantis N.V.started the mass production of modules to expand their businesses in North America.NextStar Energy Inc., in which LG Energy holds a 51% stake, has a plant with an annual capacity of 49.5 gigawatt hours (GWh), enough to power some 450,000 EVs in Windsor, Ontario.

LG Energy and Stellantis expect the joint venture to grow into their core base for their expansions in the North American EV 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.

The joint venture plans the mass production of cells in the first half of 2025 to supply batteries to next-generation EVs for Stellantis’ automotive brands such as Jeep and Chrysler, according to LG Energy.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Category: Economy

Markets: South KoreaCanada

Topics: Stellantis Supply Production Energy Joint Venture America Batteries Mass Battery North

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-23 @ 16:42:06 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 196 words

Reading Time: 2 minutes read

Sentences: 12 lines

Sentence Length: 17 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Korea Economic Daily

News ID: 23212974

View Article Analysis

About Korea Economic Daily

Main Topics: Economy

Official Website: kedglobal.com

Update Frequency: 14 posts per day

Year Established: 1964

Headquarters: South Korea

News Last Updated: 1 hours ago

Coverage Areas: South Korea

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #91

Publisher Details

Frequently Asked Questions