Stellantis, LG Energy Solution to Build EV Battery Plant for North America
18 Oktober 2021 - 8:09AM
Dow Jones News
By Joshua Kirby
Auto maker Stellantis NV is partnering with South Korea's LG
Energy Solution on a new plant making electric-vehicle batteries
for the North American market, the companies said Monday.
The companies have signed a memorandum of understanding for the
joint venture, which will produce lithium-ion battery cells and
modules. The plant should have production capacity of 40 gigawatt
hours annually when it begins production in the first quarter of
2024.
Batteries produced at the plant will be used at Stellantis
assembly facilities in the U.S., Canada and Mexico, and will be
fitted into vehicles across Stellantis's brands and models.
The venture will help the auto maker achieve its goal of
electric vehicles making up 40% of its U.S. sales by 2030, the
companies said.
Write to Joshua Kirby at joshua.kirby@wsj.com;
@joshualeokirby
(END) Dow Jones Newswires
October 18, 2021 01:54 ET (05:54 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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