Stellantis, LG Energy to Form Joint Venture for Battery Assembly in North America
AMSTERDAM—Stellantis and LG Energy Solution are forming a joint venture to assemble battery cells and modules for North America.
The joint venture will establish a new battery manufacturing facility that will help power Stellantis’ goal of realizing more than 40 percent of its sales in the U.S. comprised of electrified vehicles by 2030. Targeted to start by the first quarter of 2024, the plant aims to have an annual production capacity of 40 gigawatt hours.