Stellantis and LG Energy Solution (LGES) announced the signing of binding and definitive agreements to develop Canada's first large-scale electric car battery production plant. The joint venture will manufacture advanced lithium-ion battery cells and modules to meet a significant portion of Stellantis' North American production requirements.
The joint venture will invest more than $5 CAD billion to commence operations, which will entail the construction of an entirely new battery facility in Windsor, Ontario. The plant's construction is anticipated to begin this year, with production in the first quarter of 2024.
The battery facility aims to produce more than 45 gigawatt-hours (GWh) per year and create an estimated 2,500 new employment in Windsor and the surrounding region. The Government of Canada has made regional and federal pledges to fully support the joint venture's success.