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Stellantis, LG invest $4.1 billion in Canadian EV battery factory


Chris Feuell, CEO of the Chrysler brand of Stellantis, introduces the all-electric Chrysler Airflow Concept vehicle during a Stellantis press event at CES 2022 at the Las Vegas Convention Center on January 5, 2022. in Las Vegas, Nevada.

Alex Wong | beautiful pictures

DETROIT – Car manufacturer Stellantis and LG Energy Solution will invest approximately $4.1 billion through a joint venture to establish Canada’s first large-scale electric vehicle battery production facility.

Construction of the plant in Windsor, Ontario is expected to begin later this year with operations scheduled to begin in the first quarter of 2024, according to the transatlantic automaker. transatlantic automaker. Once fully operational, the plant is expected to have an annual production capacity of more than 45 gigawatt hours and is estimated to create about 2,500 new jobs, Stellantis said.

The new factory is part of the automaker’s plans to accelerate investment in electric vehicles to reach 5 million EV sales globally by 2030. That includes all sales in Europe and 50% of passenger car and light truck sales in North America.

The announcement is the latest for automakers to take on battery factories, also known as gigafactories, as companies try to shift their focus to all-electric vehicles over the past decade. this. Nearly every major global automaker has announced such a plan, which includes allocating billions of dollars to produce batteries – the most important component for such vehicles.

Stellantis – the world’s fourth largest automaker – was founded in January 2021 by the merger of Fiat Chrysler and France-based Groupe PSA. It has 14 individual car brands, including Alfa Romeo, Chrysler, Dodge, Fiat, Jeep and Peugeot.



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