NextStar, a joint venture between LG Energy and Stellantis, begins the mass production of EV battery modules (Courtesy of Yonhap)
LG Energy Solution Ltd., the world’s third-largest electric vehicle battery manufacturer, said on Wednesday its joint venture in Canada with multinational automaker Stellantis N.V. started the mass production of modules to expand their businesses in North America.
NextStar Energy Inc., in which LG Energy holds a 51% stake, has a plant with an annual capacity of 49.5 gigawatt hours (GWh), enough to power some 450,000 EVs in Windsor, Ontario.
The joint venture plans the mass production of cells in the first half of 2025 to supply batteries to next-generation EVs for Stellantis’ automotive brands such as Jeep and Chrysler, according to LG Energy.
LG Energy and Stellantis expect the joint venture to grow into their core base for their expansions in the North American EV and battery sectors.
“The two companies aim to lead and innovate the North American battery industry based on world-class battery expertise and trust,” said NextStar CEO Danies Lee.
LG Energy is currently operating or building eight battery factories in North America. Two are its own, while six are joint ventures with major automakers such as General Motors Co., Hyundai Motor Co. and Honda Motor Co.
By Hyung-Kyu Kim
khk@hankyung.com
Jongwoo Cheon edited this article.
