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27.10.2021 19:41 News >> Auto Giant Stellantis To Build Battery Facility In North America

Auto Giant Stellantis To Build Battery Facility In North America

Netherlands based company sign agreement with South Korean LG Energy Solution for joint venture.

The Netherlands-based automotive giant Stellantis will build a battery facility in North America with South Korean LG Energy Solution.
The two sides signed an agreement for creating a joint venture, according to a press release issued by Stellantis on Wednesday.
Stellantis was created by Italian Fiat Chrysler and French PSA Group.
Over 40% of Stellantis' total production is planned to be electric vehicles, the firm said.
The company plans to make investment worth more than €30 billion (nearly $35 billion) in the electric vehicle sector till 2025 for transition and developing software.
The battery facility will have a production capacity of 40 gigawatt/hour.
Batteries will be used in Stellantis' assembly facilities in the US, Canada and Mexico. -



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