Stellantis-LG will jointly build a gigafactory in Canada

    Stellantis pushes for 50 lakh annual global EV sales by 2030 as it hopes to open the new plant by 2024.

    Published On Apr 04, 2022 09:00:00 AM

    4,450 Views

    Stellantis & LG gigafactory
    Listen to this Article

    Stellantis and LG Energy Solution have announced a £3.01 billion (over Rs 30,000 crore) investment in a joint venture to build a gigafactory in Canada, with an annual capacity of 45GWh.

    • Jeep's share of US market was over five percent last year
    • Britishvolt is also hoping to open a plant in Quebec
    • Stellantis brands will only launch EVs from 2025

    Stellantis claims the Windsor site (just across the border from Detroit) will be the first large-scale, domestic battery factory in Canada, with a view to produce cells for Stellantis’ North American market, where brands such as Chrysler and Jeep are crucial to the conglomerate’s success. Last year, Jeep’s share of the US market was just over five percent.

    50 lakh EV sales globally

    Stellantis is reporting that the plant will be open in 2024 as it pushes for five million annual global EV sales by 2030. The ambition is for 50 percent of Stellantis’ North American market and 100 percent of its European market to be EV by the same date. Brands such as Alfa Romeo, DS, Lancia and Maserati will launch only EVs from 2025.

    It comes as more manufacturers push for EV production in Canada. UK-based Britishvolt is hoping to open a 60GWh Quebec facility in 2026, while lithium mining is also being investigated in the country. Snow Lake Lithium’s 55,000-acre site is expected to produce 1,60,000 tonnes of six percent-lithium spodumene a year when it opens in 2024.

    “Our joint venture with LG Energy Solution is yet another stepping stone to achieving our aggressive electrification roadmap in the region aimed at hitting 50 percent of battery-electric vehicle sales in the US and Canada by the end of the decade,” said Carlos Tavares, Stellantis CEO.

    LG Energy Solution started as a subsidiary of the vast LG Chem conglomerate, South Korea’s largest chemical company, before being publicly listed in December 2020. It has a history of battery production stretching back to 1999. As of 2021, it had annual sales of £11.8 billion (around Rs 11,800 crore), across a range of battery technologies, with nearly 28,000 employees.

    With this announcement, LG’s North American battery capacity is 200GWh, enough for over 25 lakh cars.

    Also see:

    Stellantis to invest 30 billion Euros towards OTA updates for cars

    Maserati to launch 3 new EVs in 2023

    Jeep Meridian for India: new details revealed

    Copyright (c) Autocar UK. All rights reserved.

    Comments
    ×
    img

    No comments yet. Be the first to comment.

    Ask Autocar Anything about Car and Bike Buying and Maintenance Advices
    Need an expert opinion on your car and bike related queries?
    Ask Now
    Search By Car Price
    Poll of the month

    The Honda City Hybrid costs Rs 19.50 lakh. Would you:

    Buy it for its superior tech and fuel economy

     

    24.25%

    Buy a regular (and cheaper) petrol/diesel City

     

    31.52%

    Buy a high-performance turbo-petrol sedan

     

    14.97%

    Buy a pure Electric Vehicle with zero emissions

     

    29.26%

    Total Votes : 1196
    Sign up for our newsletter

    Get all the latest updates from the automobile universe