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. -