Distributed Energy Resources - March 24, 2022
Stellantis Invests in Lithium-Ion Battery Plant
Stellantis N.V. and LG Energy Solution (LGES) announced they have executed definitive agreements to establish the first large-scale, domestic, EV battery manufacturing facility in Canada.
The joint venture company will produce leading-edge lithium-ion battery cells and modules to meet a significant portion of Stellantis’ vehicle production requirements in North America and will invest over $5 billion CAD ($4.1 billion USD) to establish operations, which will include an all-new battery manufacturing plant located in Windsor, Ontario, Canada. Construction of the plant is scheduled to begin later in 2022 with production operations planned to launch in the first quarter of 2024.
The plant aims to have an annual production capacity in excess of 45 gigawatt hours (GWh).
Each of the Municipal, Provincial and Federal levels of the Canadian government has agreed to fully support the successful operation of the joint venture company.
“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 US and Canada by the end of the decade,” said Carlos Tavares, Stellantis CEO in a statement.
As part of the Dare Forward 2030 strategic plan, Stellantis announced plans to have global annual battery electric vehicle sales of five million vehicles by 2030, reaching 100% of passenger car BEV sales mix in Europe and 50% passenger car and light-duty truck BEV sales mix in North America. Stellantis also increased battery capacity by 140 GWh to approximately 400 GWh that will be supported by five battery manufacturing plants together with additional supply contracts.
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