Accelerating its electric investments, Stellantis took a giant step towards establishing a lithium-ion battery facility in North America with the partnership of LG Energy Solutions. With an investment plan of more than 30 billion Euros, the new battery plant, which is planned to be operational in the first quarter of 2024, will have an annual production capacity of 40 gigawatt hours.

Stellantis N.V. (NYSE / MTA / Euronext Paris: STLA) and LG Energy Solution to form a joint venture between the two companies to manufacture battery cells and modules in North America.

‘Stellantis and LG Energy Solution’ to Build Lithium-Ion Battery Facility | Devamı>>>

LG Chem is prepared to invest $4.5 billion over the next 5 years to expand battery capacity in the United States. In a Thursday email, according to Bloomberg Green, LG Chem said it would not only sink $4.5 billion into battery capacity expansion, but it would hire 10,000 workers.

The company hatched the plan over the last year in response to what it says as the growing demand for electric vehicles and President Biden’s ambitious green policies.

Battery Giant LG Chem to Invest $4.5 Billion in U.S. Expansion | Devamı>>>