{"id":1831,"date":"2026-02-06T09:53:30","date_gmt":"2026-02-06T09:53:30","guid":{"rendered":"https:\/\/hmcokorea.com\/en\/?p=1831"},"modified":"2026-02-06T09:53:35","modified_gmt":"2026-02-06T09:53:35","slug":"lg-energy-solution-takes-full-control-of-canada-jv-with-stellantis-buyout","status":"publish","type":"post","link":"https:\/\/hmcokorea.com\/en\/2026\/02\/06\/lg-energy-solution-takes-full-control-of-canada-jv-with-stellantis-buyout\/","title":{"rendered":"LG Energy Solution takes full control of Canada JV with Stellantis buyout"},"content":{"rendered":"\n
\"Rendering
Rendering of NextStar Energy headquarters in Ontario, Canada (Yonhap)<\/figcaption><\/figure>\n\n\n\n

LG Energy Solution said Friday that it will take full control of its Canadian battery joint venture with Stellantis, as part of a business overhaul to focus on energy storage systems.<\/p>\n\n\n\n

In a regulatory filing, the South Korean battery maker said it will acquire Stellantis\u2019 49 percent stake in their joint venture, NextStar Energy, for $100. The deal will turn the company\u2019s Canadian plant into a wholly owned subsidiary of LG Energy Solution, effectively ending the companies’ joint venture partnership.<\/p>\n\n\n\n

NextStar Energy was established in 2022 amid the electric vehicle boom; LG Energy Solution invested about 2.2 trillion won ($1.49 billion) in its 51 percent stake and Chrysler parent Stellantis injected roughly $980 million.<\/p>\n\n\n\n

An industry official said the deal allows LG Energy Solution to secure full control of the plant\u2019s production capacity at a fraction of the original investment cost.<\/p>\n\n\n\n

LG Energy Solution said it plans to develop the plant into a strategic base for its North American operations, with a focus on meeting the rising demand for energy storage systems.<\/p>\n\n\n\n

The company explained that as the sole owner of the plant, it will be eligible for Canadian investment subsidies and production incentives, which will help strengthen price competitiveness and profitability.<\/p>\n\n\n\n

Amid an industry-wide slowdown in EV demand, the Canadian facility expanded its portfolio beyond EV batteries to include ESS, beginning production of lithium iron phosphate batteries for ESS in November last year.<\/p>\n\n\n\n

Despite Stellantis\u2019 exit, the two companies will continue cooperation, with Stellantis continuing to source battery products from NextStar Energy under existing supply agreements.<\/p>\n\n\n\n

\u201cLG Energy Solution sees growth opportunities in North America by situating a key production hub in Canada,\u201d said Kim Dong-myung, CEO of LG Energy Solution, in a press release.<\/p>\n\n\n\n

\u201cFull 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\u2019s EV industry by securing additional North American-based customers.\u201d<\/p>\n\n\n\n

\u201cBy enabling LG Energy Solution to fully leverage the Windsor facility\u2019s capacity, we are strengthening its long-term viability while securing the battery supply for our electric vehicles,\u201d said Antonio Filosa, CEO of Stellantis. \u201cThis is a smart, strategic step that supports our customers, our Canadian operations and our global electrification roadmap.\u201d<\/p>\n\n\n\n

With the acquisition, LG Energy Solution will operate three major ESS production bases in North America, including in Holland and Lansing, Michigan.<\/p>\n\n\n\n

source : https:\/\/m.koreaherald.com\/article\/10671585?sec=002<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

LG Energy Solution said Friday that it will take full control of its Canadian battery joint venture with Stellantis, as part of a business overhaul to focus on energy storage systems. In a regulatory filing, the South Korean battery maker said it will acquire Stellantis\u2019 49 percent stake in their joint venture, NextStar Energy, for […]<\/p>\n","protected":false},"author":1,"featured_media":1832,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-1831","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/hmcokorea.com\/en\/wp-json\/wp\/v2\/posts\/1831","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hmcokorea.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hmcokorea.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hmcokorea.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hmcokorea.com\/en\/wp-json\/wp\/v2\/comments?post=1831"}],"version-history":[{"count":1,"href":"https:\/\/hmcokorea.com\/en\/wp-json\/wp\/v2\/posts\/1831\/revisions"}],"predecessor-version":[{"id":1833,"href":"https:\/\/hmcokorea.com\/en\/wp-json\/wp\/v2\/posts\/1831\/revisions\/1833"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hmcokorea.com\/en\/wp-json\/wp\/v2\/media\/1832"}],"wp:attachment":[{"href":"https:\/\/hmcokorea.com\/en\/wp-json\/wp\/v2\/media?parent=1831"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hmcokorea.com\/en\/wp-json\/wp\/v2\/categories?post=1831"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hmcokorea.com\/en\/wp-json\/wp\/v2\/tags?post=1831"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}