LG Energy Solution, Stellantis, and NextStar Energy today announced that LG Energy Solution will acquire full ownership of NextStar Energy, with Stellantis selling its 49 per cent equity stake to LG Energy Solution.\u00a0<\/p>\n\n\n\n
NextStar Energy was established as a joint venture by the two companies in 2022 to build Canada\u2019s first large-scale battery manufacturing facility in Windsor, Ontario, and will continue building a resilient and competitive foundation for Canada\u2019s battery future.<\/p>\n\n\n\n
The ownership transition is a mutually agreed, strategic decision by the joint venture\u2019s two shareholders, LG Energy Solution and Stellantis. The decision was informed by extensive engagement with NextStar Energy\u2019s leadership team to ensure a seamless transition and strengthen the company\u2019s long-term growth and investment outlook.<\/p>\n\n\n\n
Under the new ownership structure, NextStar Energy will leverage LG Energy Solution\u2019s technological leadership and global operational expertise to better serve a broader customer base, including the Energy Storage System (ESS) industry, and respond with greater agility to market conditions and demand to pursue future growth opportunities.<\/p>\n\n\n\n
Stellantis remains a committed customer and will continue to source battery products from NextStar Energy.<\/p>\n\n\n\n
NextStar Energy\u2019s facility is a cornerstone of Canada\u2019s advanced manufacturing and clean-energy sector, anchoring domestic battery production, strengthening North America\u2019s battery supply chain, and supporting Canada\u2019s long-term industrial competitiveness. More than $5 billion CAD has been invested in the facility to date, and it employs over 1,300 employees, with a long-term target of 2,500 employees as it scales to full production. <\/p>\n\n\n\n
The closing of this transaction is subject to approvals and other conditions.<\/p>\n","protected":false},"excerpt":{"rendered":"
LG Energy Solution, Stellantis, and NextStar Energy today announced that LG Energy Solution will acquire full ownership of NextStar Energy, with Stellantis selling its 49 per cent equity stake to LG Energy Solution.\u00a0 NextStar Energy was established as a joint […]<\/p>\n","protected":false},"author":2,"featured_media":16926,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[54,24,1133],"tags":[],"_links":{"self":[{"href":"https:\/\/www.automotive-today.ro\/index.php\/wp-json\/wp\/v2\/posts\/16924"}],"collection":[{"href":"https:\/\/www.automotive-today.ro\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.automotive-today.ro\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.automotive-today.ro\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.automotive-today.ro\/index.php\/wp-json\/wp\/v2\/comments?post=16924"}],"version-history":[{"count":1,"href":"https:\/\/www.automotive-today.ro\/index.php\/wp-json\/wp\/v2\/posts\/16924\/revisions"}],"predecessor-version":[{"id":16927,"href":"https:\/\/www.automotive-today.ro\/index.php\/wp-json\/wp\/v2\/posts\/16924\/revisions\/16927"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.automotive-today.ro\/index.php\/wp-json\/wp\/v2\/media\/16926"}],"wp:attachment":[{"href":"https:\/\/www.automotive-today.ro\/index.php\/wp-json\/wp\/v2\/media?parent=16924"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.automotive-today.ro\/index.php\/wp-json\/wp\/v2\/categories?post=16924"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.automotive-today.ro\/index.php\/wp-json\/wp\/v2\/tags?post=16924"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}