French automaker Stellandis and the South Korean group LG Energy Solution will jointly build a one-cell and battery module manufacturing plant in North America.
According to The Stelandis, the joint venture should help Stellandis achieve the target of “more than 40%” of electrified vehicles’ sales in the United States “by 2030”. Both groups have signed a memorandum of understanding and the transaction has not yet been finalized.
Work will begin in the second quarter of 2022
The start of operation is scheduled for the first quarter of 2024. “The plant is targeting an annual production capacity of 40 GWh”. According to Stellandis, the location of the plant is still under study and work is scheduled to begin in the second quarter of 2022. The batteries manufactured are designed for Stellandis bases in the United States, Canada and Mexico, for 100% electric vehicles sold by hybrid or by various brands of the manufacturer.
“Through this initiative, we have determined our next ‘gigafactory’ to reach a total capacity of at least 260 GWh by 2030,” said Carlos Tavares, CEO of Stellandis.
LG Energy Solution hailed Jong-Hyun Kim as “a key step in his lasting partnership”. The two groups recall that their collaboration in the field of electric vehicles dates back to 2014. The automaker “plans to invest more than ில்லியன் 30 billion in electrification and software development by 2025”, again underscoring the press release.