Stellantis, LG Energy Solution to form battery JV for North America

Stellantis entered a preliminary agreement with battery maker LG Energy Solution to produce battery cells and modules for North America, as the automaker rolls out its 30-billion-euro ($35 billion) electrification plan.

Stellantis and LG will form a JV to produce battery cells and modules at a new facility that will have an annual production capacity of 40 gigawatt-hours, the automaker said in a statement Monday.

The batteries produced will be supplied to Stellantis' assembly plants in the U.S., Canada and Mexico for installation in hybrid and full-EVs, to support its goal of having more than 40 percent of its U.S. sales as electric by 2030.

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