LG Energy Solution-Stellantis EV battery joint venture begins production in Canada

SEOUL, Oct. 23 (Yonhap) -- South Korean battery maker LG Energy Solution Ltd. (LGES) said Wednesday its joint venture with multinational automaker Stellantis N.V. has started production on battery modules in Canada.

In early 2022, LGES and Stellantis announced a plan to build an EV battery plant in Ontario through their JV named NextStar Energy.

NextStar Energy facilities will have an annual production capacity of 49.5 gigawatt hours of EV batteries, which is enough to power 450,000 vehicles annually, LGES said.

Battery cell manufacturing will begin in the Ontario plant next year when the plant's construction is complete, the company said.

"The start of module production is its most significant operational milestone yet, demonstrating NextStar Energy's commitment to becoming an industry leader in North American battery technology and production," NextStar Energy said in a statement.

LGES currently operates seven battery cell plants -- one each in South Korea, Poland, China and Indonesia, and three in the United States.

kyongae.choi@yna.co.kr
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