Stellantis and LG Energy Solution (LGES) have signed binding, definitive agreements to establish the first large-scale, domestic, electric vehicle battery manufacturing factory 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.
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The JV will spend C$5 billion CAD (US$4.1 billion) to establish operations which will include a battery manufacturing plant in Windsor, Ontario. Plant construction begins later this year with the production launch in the first quarter of 2024.
The plant will have annual production capacity of 45 gigawatt hours (GWh) and will create an estimated 2,500 new jobs. Each of the municipal, provincial and federal levels of the Canadian government have agreed “to fully support” the JV.
Windsor is home to other auto factories such as Ford and Stellantis and LGES expect the battery plant to act as a catalyst for the establishment of a strong battery supply chain in the region.
Canada is committed to establishing a battery industry and claims leadership in generating electricity from renewable sources such as hydro.
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By GlobalData