Stellantis Will Transfer Complete Ownership of NextStar Energy to LG Energy Solution! Stellantis, one of the world’s largest mobility companies, is transferring its 49 percent partnership share in NextStar Energy to its founding joint venture partner, LG Energy Solution. Following the strategic decision taken by LG Energy Solution and Stellantis and in mutual agreement with NextStar Energy, the company will continue to create a durable and competitive foundation for Canada’s battery future. With over 5 billion Canadian dollars invested to date, NextStar Energy strengthens its commitment to long-term growth and innovation, while also confirming its commitment to high-quality employment at Canada’s first and only commercial-scale battery manufacturing facility.
Stellantis, one of the world’s largest mobility companies that invests in all areas of mobility, has made a new decision in the field of energy. Making a joint statement in this context, Stellantis and NextStar Energy announced that LG Energy Solution will take over the entire ownership of NextStar Energy, and in this context, Stellantis will sell its 49 percent share in the company to LG Energy Solution. NextStar Energy was launched as a joint venture by the two companies in 2022 to establish the country’s first large-scale battery production facility in Windsor, Ontario, Canada. The company will continue to build a resilient and competitive foundation for Canada’s battery future. Growth opportunities will be evaluated! This change in the partnership structure is a strategic decision taken by mutual consent by the two shareholders of the joint venture, LG Energy Solution and Stellantis. In the statement, “The decision process was shaped in line with comprehensive discussions with NextStar Energy’s senior management in order to ensure a seamless transition and strengthen the company’s long-term growth and investment outlook. Within the scope of the new ownership structure, NextStar Energy will aim to provide more effective service to a wider customer base, including the Energy Storage Systems (ESS) sector, by leveraging LG Energy Solution’s technological leadership and global operational expertise, and will evaluate future growth opportunities by responding more agilely to market conditions and demand. Stellantis is a strategic customer.” It will continue to supply battery products from NextStar Energy.”
Automobile Magazine – English
