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South Korean battery supplier LG Energy Solution (LGES) and Stellantis’ join venture is ready to mass produce modules to expand business in North America.
LGES and Stellantis’ joint venture, NextStar Energy Inc., was announced in 2022. The South Korean company holds a 51% stake in NextStar. The companies invest more than $4.1 billion in a large-scale lithium-ion battery production facility in Canada.
The plant is in Windsor, Ontario and was initially expected to have more than 45 GWh of capacity per year. In a recent update, The companies reported that the Ontario plant will have an annual capacity of 49.5 GWh, enough for 450,000 electric vehicles (EVs).
The joint venture plans to start mass production of cells in the first half of 2025. The battery modules will be equipped on Stellantis’ next-generation EVs, specifically those under the Jeep and Chrysler brands.
“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.
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