LG Energy Solution to Acquire Full Ownership of NextStar Energy from Stellantis
LG Energy Solution will buy Stellantis' 49% stake in NextStar Energy, taking full control of Canada's first large-scale battery plant.
- > $5 billion CAD
- over 1,300
- 2,500
What Happened
LG Energy Solution and Stellantis have agreed that LG will acquire full ownership of NextStar Energy, their joint venture in Windsor, Ontario. Stellantis will sell its 49% equity stake, making NextStar Energy a wholly owned subsidiary of LG Energy Solution. The deal is subject to regulatory approvals.
NextStar Energy established as a joint venture between LG Energy Solution and Stellantis
LG Energy Solution agrees to acquire full ownership from Stellantis
“LG Energy Solution sees growth opportunities in North America by situating a key production hub in Canada. Full ownership of NextStar Energy will enable us to respond swiftly to the growing demand from the ESS market and position us to play a key role in Canada’s EV industry by securing additional North American-based customers.”
> $5 billion CAD
More than $5 billion CAD has been invested in the facility to date, supporting over 1,300 employees with a target of 2,500.
Why this matters
This ownership change allows LG to pivot the plant toward energy storage while maintaining battery supply for Stellantis, strengthening Canada's battery manufacturing ecosystem.
Terms in This Story
- ESS
- Energy Storage System, a technology for storing energy for later use
- Joint Venture
- A business arrangement where two or more parties share ownership and operation of a project
Summarised from the linked release; details can be imperfect — always verify against the original source.