The venture plans to spend $4.1 billion to
build the new plant on a field in the Canadian city. It's expected to open
early in 2024 and will be able to make battery cells and modules for over
500,000 electric vehicles per year.
The plant will supply batteries for a
“significant portion” of Stellantis' North American production, the companies
said in a statement Wednesday. Stellantis has said the venture plans to build
two battery factories in North America. The other location has not been
announced.
The companies said in a statement that
municipal, provincial and federal levels of the Canadian government are
supporting the joint venture, but it gave no details of tax breaks or other
incentives.
The automaker, formed last year with the
merger of Fiat Chrysler and France's PSA Peugeot, is the world's fourth-largest
automaker. It has announced plans to sell 5 million electric vehicles by 2030,
with 50 percent of its North American passenger car and light truck sales going
fully electric by 2030. Stellantis plans to sell 100 percent electric passenger
cars in Europe by 2030.
Stellantis has announced that its existing
minivan factory in Windsor will build an electric vehicle, but hasn't given
other details of where new EV models will be made.
LG Energy Solutions has announced plans to
spend $4.6 billion on battery factories in North America. On Tuesday it
announced plans for a $1.7 billion expansion in western Michigan that will add
up to 1,200 jobs by 2025, officials announced Tuesday.
The project at the company's site in Holland, located about 155 miles (249 kilometres) northwest of Detroit, was approved for $56.5 million in state grants and a 20-year tax break worth $132.6 million.
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