LG Energy, Stellants to Invest $4.1 Billion in Canadian Battery JV -- Update
23 Março 2022 - 1:31PM
Dow Jones News
By Kwanwoo Jun and Kim Richters
Battery maker LG Energy Solution Ltd. and auto maker Stellantis
NV have agreed to invest a total of $4.1 billion in a joint venture
that will include a large-scale battery manufacturing plant in
Windsor, Canada.
"The joint venture company will produce leading edge lithium-ion
battery cells and modules to meet a significant portion of
Stellantis' vehicle production requirements in North America,"
Stellantis said Wednesday.
LG Energy will spend $1.464 billion to buy a 51% stake in the
joint venture and $637.3 million to guarantee debt and support its
credit line, the South Korean electric-vehicle battery maker said
in a regulatory filing on Wednesday.
The investment plan follows an initial announcement by LG Energy
and Stellantis in October to jointly build an EV battery plant for
the North American market. The car maker has also partnered with
South Korea's Samsung SDI Co. for a similar EV battery
joint-venture project.
Stellantis said production at the plant should begin in the
first quarter of 2024, which should have an annual production
capacity of more than 45 gigawatt hours and create around 2,500
jobs in Windsor and surrounding areas.
Stellantis set a goal of battery-electric vehicles making up 50%
of its passenger car and light-duty truck sales mix in North
America by 2030.
Write to Kwanwoo Jun at kwanwoo.jun@wsj.com and Kim Richters at
kim.richters@wsj.com
(END) Dow Jones Newswires
March 23, 2022 12:16 ET (16:16 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
Stellantis NV (BIT:STLA)
Gráfico Histórico do Ativo
De Mar 2024 até Abr 2024
Stellantis NV (BIT:STLA)
Gráfico Histórico do Ativo
De Abr 2023 até Abr 2024