Stellantis, LG Energy to Build $4.1 Billion EV Battery Factory in Ontario, Canada

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As previously rumored, Stellantis N.V. and LG Energy Solution will be constructing a new electric vehicle battery plant in Canada.

The new EV battery plant will be constructed in Windsor, Ontario, with the joint venture to cost $4.1 billion USD. The facility will supply lithium-ion batteries for Stellantis factories in Windsor and across North America, expected to open in 2025. Windsor is located across the Detroit River from Detroit, Michigan.

The announcement on Wednesday was made by the federal government and provincial government in Ontario. The factory is expected to create 2,500 “well-paying jobs”.

François-Philippe Champagne, Minister of Innovation, Science and Industry, said “Today’s announcement is great news for Canadian jobs and the future of Canada’s economy. We are seeing the largest investment in Canada’s auto sector, and it is clear that companies recognize Canada’s strong position as a global leader for EV battery manufacturing.”

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“LG Energy Solution, together with Canada and Stellantis, aspires to become the world’s leading battery manufacturer by powering EVs in North America,” added Youngsoo Kwon, CEO of LG Energy Solution.

The factory will have an annual production capacity in excess of 45 gigawatt hours.

“Our joint venture with LG Energy Solution is yet another stepping stone to achieving our aggressive electrification roadmap in the region aimed at hitting 50% of battery electric vehicle sales in the U.S. and Canada by the end of the decade. We are grateful to the municipal, provincial and federal levels of government for their support and commitment to help position Canada as a North American leader in the production of electric vehicle batteries,” said Carlos Tavares, CEO of Stellantis.

Construction is slated to start later in 2022, with production operations planned to launch in Q1 of 2024, followed by an operational start in 2025.

The Government of Canada hopes to achieve 100% zero-emission vehicle (ZEV) sales by 2035.

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