NewsAuto Giant Stellantis To Build Battery Facility In North America

Auto Giant Stellantis To Build Battery Facility In North America

27.10.2021 19:41

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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