Stellantis Partners with LG on Battery Production in U.S

Stellantis has partnered with LG Energy Solutions to establish a new battery manufacturing facility in the U.S.

Under the agreement, the two companies will produce battery cells and modules to be used in the marque’s next generation of electric vehicles.

Batteries will be supplied to Stellantis’ assembly plants across the US, Canada and Mexico.

Targeted to start by the first quarter of 2024, the plant aims to have an initial annual production capacity of 40-gigawatt hours.

“Today’s announcement is further proof that we are deploying our aggressive electrification road map,” said Carlos Tavares, CEO of Stellantis.

“With this, we have now determined the next ‘gigafactory’ coming to the Stellantis portfolio to help us achieve a total minimum of 260-gigawatt hours of capacity by 2030.

“I want to warmly thank each person involved in this strategic project. Together, we will lead the industry with benchmark efficiencies and deliver electrified vehicles that ignite passion.”

The facility will form part of Stellantis’ €30 billion (AUD$46 billion) investment into electrification and software development through 2025.

“Establishing a joint venture with Stellantis will be a monumental milestone in our long-standing partnership,” said Jong-hyun Kim, President and CEO of LG Energy Solutions.

“LG will position itself as a provider of battery solutions to our prospective customers in the region by utilizing our collective, unique technical skills and mass-producing capabilities.”

The location of the new factory is yet to be announced.

Source: Stellantis | Stellantis and LG Energy Solutions to Form Joint Venture for Lithium-Ion Battery Production in North America.

23 October 2021

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