Stellantis to build batteries in N.A. with LG
And now, it’s Stellantis’ turn to come to a preliminary agreement with a battery maker, in this case, Korea’s LG Energy Solution. The main goal is to produce battery cells and modules for North America, a project that is part of the automaker’s 30-billion-euro ($35 billion US or $ 43,275,750,000 CDN) electrification plan.
Stellantis and LG’s JV should produce battery cells and modules at a new plant that should have an annual production capacity of 40 gigawatt-hours. The batteries thus produced will be sent to Stellantis’ assembly plants in the U.S., Canada and Mexico for installation in hybrid and full-EVs. The international automaker has the goal of having more than 40 percent of its North American sales as electric by 2030. The new plant is projected to be in full operation by the first quarter of 2024.