To build the plant, the venture will spend $4.1 billion (or $5 billion Canadian). It is expected to open in early 2024. The plant will be capable of producing battery cells and modules that can power over 500,000 electric cars per year.
Stellantis said Wednesday that the plant will supply batteries to a "significant" portion of its North American production. Stellantis stated that the venture plans to construct two North American battery factories. The location of the second facility has yet to be announced.
According to the companies, the Canadian government supports the joint venture at the municipal, provincial, and federal levels. However, the statement did not provide details about tax incentives or tax breaks.
It is the fourth-largest global automaker after the merger of Fiat Chrysler with France's PSA Peugeot. It plans to sell 5,000,000 electric vehicles by 2030. 50% of North American passenger cars and light trucks will be fully electric by 2030. Stellantis intends to sell 100 percent electric passenger cars in Europe within the next 30 years.
Stellantis announced that the Windsor minivan factory will produce an electric vehicle. However, it has not provided any details about where new EV models might be made.
LG Energy Solutions announced plans to invest $4.6 billion in North American battery factories. Officials announced Tuesday that the company plans to expand its western Michigan operations by $1.7 billion, creating up to 1,200 new jobs by 2025.
The company's Holland site, which is located approximately 155 miles (249 km) northwest of Detroit was approved for $56.5million in state grants and a 20 year tax break valued at $132.6million.
